Switzerland Seeks Closer EU Ties In Response To Trump Shock

(MENAFN- Swissinfo) US President Donald Trump's tariff war has reignited a long-standing debate in Switzerland: whether it should inch closer to the EU, its largest trading partner. This content was published on April 15, 2025 - 11:30 4 minutes Mercedes Ruehl in Zurich, Financial Times

Swiss President Karin Keller-Sutter on Friday joined EU finance ministers meeting in Warsaw, the first time the Alpine nation has done so. Keller-Sutter, who is also the country's finance minister, told local press last week that Switzerland wanted to“stabilise, deepen relations with the EU”.

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The British chancellor, Rachel Reeves, also attended and called on the UK and EU to work closely together on defence financing to provide greater economic and national security.

Export-oriented Switzerland was shocked to find itself among the countries facing the highest“reciprocal tariffs” announced by President Donald Trump this month – 31%, nearly as much as China at 34%.

Switzerland's rate compared with 20% for the neighbouring EU and 10% for the UK, even though the country had abolished industrial tariffs last year. While the US has since paused the application of the levy for 90 days to allow for trade talks, Trump's move sent chills down a country with a large US clientele eager for its luxury watches, fine chocolate and cheeses.

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