Swiss leader accused of ‘disastrous’ agreement with Trump
(MENAFN) Swiss President Karin Keller-Sutter is under heavy criticism after a trade deal with the United States collapsed, following what sources have described as a “disastrous” phone call with U.S. President Donald Trump, according to the Financial Times.
On Friday—coinciding with Switzerland’s national day—Trump announced a steep 39% tariff on Swiss exports, one of the highest globally. Swiss officials had believed they had secured a preliminary agreement for a far lower 10% tariff, modeled after the UK’s deal. In return, Switzerland had committed to invest nearly $150 billion in the U.S. and maintained consistent communication with U.S. Trade Representative Jamieson Greer. Swiss authorities had approved the proposal in early July, expecting only Trump’s final approval.
Keller-Sutter, who also serves as finance minister, previously claimed she had gained rare direct access to Trump. But during a 30-minute call on Thursday, Trump reportedly dismissed the proposed deal, focusing instead on Switzerland’s $39 billion trade surplus with the U.S. According to sources, Trump insisted that a 10% tariff was insufficient and questioned what more the “very wealthy” Swiss could offer.
Swiss media harshly criticized the outcome, with Blick tabloid calling it Keller-Sutter’s “biggest fiasco” and comparing it to the nation's historic defeat at the Battle of Marignano in 1515.
Greer later denied that any final agreement had been reached, telling Bloomberg that “nothing is agreed until everything is agreed.”
The tariff announcement followed Trump’s earlier “Liberation Day” speech on April 2, where he outlined a global restructuring of U.S. trade policy. After several delays and negotiations, a revised executive order adjusting tariffs based on trade imbalances was signed last week. The new rates are set to take effect on August 7.
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