That's what it's about

Switzerland and the US have reached an agreement in their tariff dispute. US President Trump had imposed high tariffs on Swiss goods in April 2025. Economy Minister Parmelin traveled to Washington to finalize the agreement.

The tariff dispute between Switzerland and the US government, which has been ongoing since April 2025, has reached a preliminary end: On Friday, the Federal Council announced that US tariffs have been reduced to 15 percent. They thanked President Trump for his constructive engagement. The Federal Council will provide details of the new agreement at 4 p.m.

Most recently, Economy Minister Guy Parmelin made an unscheduled trip to Washington to meet with US Trade Representative Jamieson Greer. An agreement to reduce tariffs is now expected.

The customs tremors began with Liberation Day.

The dispute began on April 2nd, Trump's Liberation Day: The US government announced a universal base tariff of 10 percent on all imports into the US, effective April 5th, 2025. Trump also announced plans to impose significantly higher tariffs on certain countries, including Switzerland.

Later in the spring, Trump also imposed high tariffs on certain goods such as cars, steel and aluminium, which are levied when imported into the USA.

August 7th: Customs Hammer Day

Then, on August 7th, the tariff hammer fell: Trump imposed a punitive tariff of 39 percent on goods imported into the USA from Switzerland. This made Switzerland one of the countries hardest hit by the tariffs.

In response, the government initiated intensive negotiations, during which Karin Keller-Sutter was initially considered the Federal Councillor with the best rapport with Donald Trump. However, the mood shifted as the talks progressed: the US President reportedly felt humiliated by the Finance Minister and refused further discussions.

Did golden gifts bring about the change?

The turning point apparently came with the visit of the Swiss business leaders to Washington D.C., during which the CEOs charmed the US president with golden gifts. For example, the Rolex CEO presented Trump with a gold desk clock, and the 79-year-old also received a gold bar. That the precious metal suits Trump's taste is also evident in the new look of the Oval Office.

Since taking office, the US president has been showered with gifts: The news that Trump would receive a luxury jumbo jet worth approximately $400 million from Qatar sparked particularly heated debate. FIFA President Infantino also presented Trump with gold, in the form of a large plaque.