Swiss Economy Minister Guy Parmelen announced the deal with visible relief. “After intensive negotiations, Switzerland has agreed with the US on 15 percent tariffs”, ARD quoted him as saying.
Instead of 39 percent - one of the highest rates in the world - in the future the US government will impose tariffs on Switzerland that are the same as those imposed on imports from the EU. “In this way, our economy is placed on the same terms as the competition from the EU”, added Parmelen.
Switzerland promises billions in investments to the US
The relief is also felt on social media. "Thank you for the constructive engagement, Mr. Trump," reads a post on the Swiss government's X platform. However, there are also commitments for Switzerland, explains the German public media. Minister Parmelen announced that the Swiss economy is committed to investing $200 billion in the United States in the coming years.
Bloomberg reported in advance that an agreement was in the offing - after President Trump invited a Swiss economic delegation to Washington. According to media reports, the businessmen, including the head of the watch company “Rolex” and the luxury goods concern “Richmond”, brought the American president expensive gifts - a specially engraved gold bar and a “Rolex” table clock.
Generous guests in the White House
It is likely that it was the generous guests in the White House that contributed to the movement in the negotiations that have been going on for months, ARD suggests, while also quoting the words of Switzerland's chief trade diplomat - Helene Budligen-Artieda, according to whom everything was due to Swiss diligence.
For now, the agreements are contained only in a declaration of intent, the German public media outlet points out. It will take some time before they are implemented.
“A breath of fresh air, but not reassurance”
A number of details also need to be clarified. For example, in connection with the agreed duty-free import of 1,500 tons of poultry meat from the United States to Switzerland. "Will the chickens not be treated with chlorine?" asked a journalist - given that this type of chicken is banned in Switzerland. According to Minister Parmelen, the issue was yet to be discussed.
Representatives of the Swiss economy reacted with relief, but without euphoria, to the customs agreement reached. The 39 percent tariffs imposed by Trump in August have seriously burdened the export-oriented Swiss economy in recent months and put the existence of some companies at risk, ARD points out.
But the 15 percent rate will also weigh on export-oriented companies, the German public media explains. "A breath of fresh air, but no reassurance" - this is how the Union of Mechanical, Electronic and Metalworking Industries Swissmem described the situation. The organization fears that new tariffs may be imposed, and market uncertainty is high.
Trump has removed tariffs on some goods
The American president has also reversed the tariffs on food products such as beef, bananas and coffee, ARD points out, noting that this is due to persistent inflation and the election victories of Democrats in New York, Virginia and New Jersey. In addition to the products mentioned, tariffs on imports from abroad for tea, tomatoes, spices and fruit juices are being abolished. Certain types of fertilizers are also listed, according to information published on the White House website.
The German public media outlet points out that Trump is under political pressure due to high food prices in the United States. In one year, ground beef, for example, has risen in price by 13 percent, and steaks by 17. Banana prices have increased by seven percent.
In addition, Republicans suffered serious electoral losses against Democrats, which is considered the first test of sentiment since Trump took office.
Putting out the fire you started
ARD recalls that in April Trump imposed tariffs of at least ten percent on most products imported into the United States in order to reduce the country's trade deficit and stimulate local production. However, these tariffs also affected products that are not grown or produced on American soil at all. The American government accuses the affected countries of having taken advantage of the imbalance in customs rules at the expense of the United States for years.
Trump, for his part, has long insisted that his import tariffs do not promote inflation. Democratic Rep. Richard Neal said the Trump administration is trying to "put out a fire it started and present it as progress."
Author: Catherine Hondel (ARD)