Swiss Leader faces criticism after trade talks with Trump
(MENAFN) Swiss President Karin Keller-Sutter is facing criticism after trade talks with the US collapsed following a “disastrous” phone call with President Donald Trump, according to a news agency. Trump announced a 39% tariff on Swiss goods, one of the highest worldwide, coinciding with Switzerland’s national day.
Swiss negotiators had believed they secured a provisional deal for a 10% tariff, similar to the UK’s, in exchange for nearly $150 billion in US-bound investment. The offer, approved in early July, was thought to be awaiting Trump’s signature.
Keller-Sutter, who also serves as finance minister, had said she had gained rare “access to Trump.” However, during a 30-minute call, Trump rejected the deal and focused on Switzerland’s $39 billion trade surplus. According to sources, Trump insisted the 10% tariff was insufficient and accused Switzerland of “stealing money” from the US, leaving Keller-Sutter unable to respond effectively.
Swiss media labeled the outcome Keller-Sutter’s “biggest fiasco,” with tabloid Blick comparing it to Switzerland’s worst defeat since 1515 at the Battle of Marignano.
Swiss negotiators had believed they secured a provisional deal for a 10% tariff, similar to the UK’s, in exchange for nearly $150 billion in US-bound investment. The offer, approved in early July, was thought to be awaiting Trump’s signature.
Keller-Sutter, who also serves as finance minister, had said she had gained rare “access to Trump.” However, during a 30-minute call, Trump rejected the deal and focused on Switzerland’s $39 billion trade surplus. According to sources, Trump insisted the 10% tariff was insufficient and accused Switzerland of “stealing money” from the US, leaving Keller-Sutter unable to respond effectively.
Swiss media labeled the outcome Keller-Sutter’s “biggest fiasco,” with tabloid Blick comparing it to Switzerland’s worst defeat since 1515 at the Battle of Marignano.
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