GENEVA – In a dramatic, last-ditch diplomatic effort, Switzerland’s President and Economy Minister rushed to Washington on Tuesday for emergency talks aimed at averting a crippling 39% tariff that the Trump administration is set to impose on the wealthy, export-driven nation this week.
The high-stakes mission was launched after an emergency meeting of the Swiss government on Monday, following President Donald Trump’s surprise decision last week to hike the proposed tariff rate on Switzerland, a move that stunned Swiss officials and business leaders. The 39% duty is one of the highest rates faced by any of the dozens of economies that will be hit by the new U.S. tariffs expected to come into force as early as Thursday.
In a statement, the Swiss government said President Karin Keller-Sutter and Economy Minister Guy Parmelin were heading to Washington “to facilitate meetings with the US authorities at short notice and hold talks with a view to improving the tariff situation for Switzerland.”
“The aim is to present a more attractive offer to the United States in a bid to lower the level of reciprocal tariffs for Swiss exports, taking US concerns into account,” the statement read.
The sudden trip highlights the deep sense of crisis in the Swiss government. President Trump had originally threatened a 31% tariff on Switzerland in April, but after numerous discussions between Swiss and U.S. officials aimed at reaching a deal, the White House unexpectedly increased the rate. The Swiss government has noted with alarm that its country will now be hit by much higher tariffs than what other wealthy economies, such as the United Kingdom, Japan, or the European Union, are facing.
The U.S. is a critical trading partner for Switzerland, taking nearly 19% of its total exports last year. The trade relationship is heavily skewed in Switzerland’s favor, with the country enjoying a trade surplus of approximately $50 billion. President Keller-Sutter has previously said that President Trump believes Switzerland “steals” from the United States because of this imbalance.
The tariffs would be particularly damaging to key sectors of the Swiss economy. Pharmaceuticals represented 60% of Swiss goods exports to the United States last year, followed by machinery and watches. The country’s famed chocolate industry has also warned that the tariffs would be a “tough blow.”
The Swiss delegation, which includes the heads of the economy and international finance departments, is hoping to convince the administration to reconsider. However, they face a significant uphill battle. On Sunday, U.S. Trade Representative Jamieson Greer indicated that the tariff rates set to come into force this week were unlikely to change.
“These tariff rates are pretty much set,” Greer told CBS television’s “Face the Nation” program, signaling that the window for negotiation may have already closed.
