Switzerland: Pioneering Trade Diplomacy with the US and China

Switzerland has emerged as a frontrunner in securing a trade agreement with the United States, following its instrumental role in hosting recent U.S.-China trade discussions. U.S. Treasury Secretary Scott Bessent acknowledged Switzerland's successful diplomatic positioning after meeting with Swiss officials and Chinese Vice Premier He Lifeng.

The discussions come against the backdrop of the U.S. imposing steep 31% tariffs on Swiss goods, prompting Switzerland's major enterprises to pledge considerable investments in the U.S. Bessent highlighted the accelerated progress of the UK and Switzerland in trade negotiations, while the EU remains slower, resisting an inequitable tariff agreement. Britain's recent agreement with the U.S. underscores this disparity.

In a strategic move, Switzerland utilized the elegant setting of its U.N. ambassador's private residence for the discussions, a move that garnered praise from U.S. Trade Representative Jamieson Greer and Chinese officials alike. The Swiss government's warm hospitality was noted as significantly contributing to the positive outcomes of the talks.

(With inputs from agencies.)