(MENAFN) Swiss business leaders reportedly offered lavish presents to US President Donald Trump just prior to Bern and Washington unveiling a new trade agreement aimed at reducing steep American import duties.

The accord, revealed on Friday, lowers the Trump administration’s 39% tariff on Swiss goods to 15% and includes a commitment from Swiss companies to inject $200 billion into the US economy.

The original tariff increase had been implemented in August, following Trump’s ‘Liberation Day’ address in April, which outlined a comprehensive global trade restructuring.

Sources indicate that the progress emerged after a November 4 visit to the White House by Swiss executives, who presented Trump with extravagant items such as a personalized gold bar and a gold Rolex desk clock.

According to a media outlet, the bar—valued at more than $130,000—was engraved with 45 and 47 to signify Trump’s presidential terms and was accepted on behalf of his library in accordance with US gift regulations.

The group reportedly included top representatives from MKS, Rolex, Richemont, and commodity trader Mercuria.

The gesture sparked backlash in Switzerland, with the Green Party labeling the agreement a “surrender agreement” and accusing the nation’s economic elite of yielding to Trump’s demands.

Party leader Lisa Mazzone warned that consumers and farmers would ultimately “pay the price” for the concessions, while highlighting concerns over the “questionable methods and gifts of gold.”

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