Swiss President Under Fire Over Failed Trump Trade Deal
(MENAFN) Swiss President Karin Keller-Sutter is under fire after trade negotiations with the United States collapsed following a "disastrous" phone conversation with President Donald Trump, according to media, which cited insiders familiar with the talks.
On Friday, Trump imposed a 39% tariff—the highest among global levies—on Swiss exports, coinciding with Switzerland’s national holiday.
The media report published Sunday revealed that Swiss officials believed they had reached a tentative agreement for a 10% tariff, mirroring the deal the UK secured. In return, Bern committed nearly $150 billion in investments to the U.S. and maintained close coordination with U.S. Trade Representative Jamieson Greer. This offer was approved in early July, and Swiss authorities were confident it awaited only Trump’s final approval.
Keller-Sutter, who doubles as finance minister during Switzerland’s rotating presidency, had claimed last month she had gained rare “access to Trump.” However, a 30-minute call on Thursday—described by sources as “disastrous”—saw Trump reject the proposal outright, instead zeroing in on Switzerland’s $39 billion trade surplus.
“The call did not go well, in the sense that from the very first minute Trump made it clear 10% was not enough, and all he could focus on was Switzerland stealing money from the US. There was nothing Keller-Sutter could say,” one source told the media. Trump reportedly challenged what more the “very wealthy” Alpine nation could offer.
Swiss media branded the fallout as Keller-Sutter’s “biggest fiasco,” with tabloid a news agency comparing it to Switzerland’s worst military defeat since 1515, when Swiss forces were routed by France at the Battle of Marignano.
Greer later refuted claims of a finalized deal in an interview with another news agency, stating, “Nothing is agreed until everything is agreed.”
This tariff increase follows Trump’s April 2 ‘Liberation Day’ speech, which laid out plans for a global trade realignment. After several postponements and ongoing negotiations, a revised executive order signed last week adjusted tariffs based on “trade imbalances,” with the new duties scheduled to take effect on August 7.
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