ZURICH (Reuters) – The announcement of a prospective agreement between Switzerland and the United States aimed at alleviating the significant 39% tariffs on Swiss exports may come as early as this Friday, although Richemont Chairman Johann Rupert indicated that it could take several months for the deal to be finalized. Rupert, who met President Donald Trump at the White House last week as part of a delegation of Swiss business leaders, expressed his belief that the tariffs stem from a ‚misunderstanding‘ between Washington and Bern, which he anticipates will be resolved shortly. He remarked, ‚The Swiss and the Americans share similar values of independence and a preference against big government, so I believe this misunderstanding can be addressed this week.‘ Rupert hinted at forthcoming developments, stating, ‚I expect we’ll hear more today.‘ Swiss Economy Minister Guy Parmelin returned to Switzerland on Friday after discussions with U.S. Trade Representative Jamieson Greer in Washington, during which he noted that ‚virtually everything has been clarified‘ regarding the tariffs and Switzerland’s trade surplus with the U.S. While he withheld further details, Parmelin promised additional communication once matters are ‚finally clear.‘ A confidential Swiss source indicated that a deal was effectively in place following Thursday’s meeting, with hopes of reducing tariffs to 15%. A senior U.S. official described the discussions as ‚very positive,‘ suggesting that a reduction in tariffs could be possible if President Trump agrees to the proposed terms. Rupert, who participated in last week’s meeting with Trump alongside executives from various Swiss companies, stated that it could take months for a formal agreement to be signed, citing Trump’s busy schedule. He added that the current situation has had a significant impact on Swiss industry, noting a 14% decline in exports to the U.S. during the three-month period ending in September, according to Swissmem, a technology industry association. The machine tool sector reported a staggering 43% drop in shipments. Rupert emphasized that a tariff reduction to 15% would stabilize the Swiss economy and mitigate potential job losses attributed to the elevated duties, stating, ‚It’s not just us; this situation could be devastating for all of Switzerland.‘ (Reporting by John Revill, with additional reporting by Dave Graham; editing by Philippa Fletcher) View Comments<\/p>\n","protected":false},"excerpt":{"rendered":"
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