Switzerland Races to Avert U.S. Tariff Crunch through Energy and Defense Deals
Swiss President Karin Keller-Sutter meets with U.S. Secretary of State Marco Rubio to negotiate energy and defense purchases, aiming to prevent the U.S. from imposing a 39% tariff on Swiss imports. Switzerland explores buying U.S. LNG, similar to EU commitments, to mitigate trade tensions.
In a strategic move to forestall hefty tariffs from the United States, Swiss President Karin Keller-Sutter and Business Minister Guy Parmelin are holding talks in Washington. The high-level discussions are aimed at securing more energy and defense purchases, a measure that may see the United States lift its planned 39% tariff on Swiss imports.
The urgency in Bern comes after President Donald Trump announced a series of tariffs last week that could potentially debilitate Switzerland's export-reliant economy. While the Trump administration desires increased purchases of American liquefied natural gas and defense equipment, Swiss negotiators aim to negotiate terms similar to the European Union.
With Swiss industries like watches and machinery at risk, and tens of thousands of jobs potentially threatened, expectations run high. "We greatly appreciate the Federal Council's tireless efforts," said Swissmem's Noe Blancpain, underscoring the business community's support for the ongoing negotiations.
(With inputs from agencies.)
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