Swiss President Karin Keller-Sutter refused to say whether her country could conclude an agreement on customs duties this year with US President Donald Trump, in the wake of trade tensions that strained relations between the two countries, in an interview with the Tages-Anzeiger newspaper. “It is not possible to predict,” Keller Sutter said in a newspaper interview published on Friday when she was asked about the possibility of reaching an agreement in 2025. “Everything depends on whether the American president gives the green light or not.”
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After a phone call with Keller Sutter in late July, Trump imposed 39% tariffs on Switzerland in August, justifying this by the size of the US trade deficit with Switzerland. Keller Sutter drew domestic criticism for her handling of the call, and Trump later complained publicly that she “didn’t want to listen” to his concerns about the US deficit.
Since then, the Swiss government has been working to reach a better tariff agreement with Trump, presenting a package of pledges and investment proposals aimed at reducing the US deficit. Keller-Sutter, whose term under Switzerland’s one-year rotating presidency expires at the end of 2025, said Swiss officials continue to talk with the United States about tariffs.
While US tariffs affect less than 10% of all Swiss goods exports, some regions are being severely affected, she noted, noting that Swiss machine makers were already under pressure due to challenges such as economic weakness in neighboring Germany.
Source: Market intelligence platform IndexBox
