Swiss president heads to US for talks to defuse tariff threat

Swiss president heads to US for talks to defuse tariff threat

President Karin Keller-Sutter seeks to avert 39% tariffs on Swiss goods by offering better trade terms to the US.

Swiss President Karin Keller-Sutter is set to hold short-notice talks with US officials to seek better tariff terms. (EPA Images pic)
ZURICH:
Swiss President Karin Keller-Sutter and Business Minister Guy Parmelin will fly to Washington on Tuesday, the government said, to try to avoid the 39% tariffs announced by president Donald Trump on exports to the US.

The pair will “facilitate meetings with the US authorities at short notice and hold talks with a view to improving the tariff situation for Switzerland,” the government said.

It does not specify which parts of the US government they would meet in Washington or whether a meeting was scheduled with Trump.

The Swiss government said on Monday it was ready to make a “more attractive offer” to the US as it sought to avoid a 39% tariff, due to take effect on Aug 7, which would damage Switzerland’s economy.

The Federal Council, the governing cabinet, held an emergency meeting and said it was ready to pursue negotiations beyond the Aug 7 deadline.

The government gave no details of what extra incentives could be offered to secure a better deal, but it did say it was not considering any countermeasures against the US.

The aim of Keller-Sutter and Parmelin’s trip was to present “a more attractive offer to the US in a bid to lower the level of reciprocal tariffs for Swiss exports, taking US concerns into account,” the government said.

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