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Swiss minister hopes for result on US trade talks by July
Published by Global Banking & Finance Review®
Posted on May 27, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on May 27, 2025
1 min readLast updated: January 23, 2026
Swiss Economy Minister Guy Parmelin is optimistic about concluding US trade talks by July, aiming to reduce tariffs and diversify trade relations.
ZURICH (Reuters) -Talks over trade between the Swiss government and the Trump administration will hopefully yield a result by the beginning of July, Swiss Economy Minister Guy Parmelin said on Tuesday.
Switzerland was stunned to be saddled with steeper tariffs than its neighbours in the European Union when U.S. President Donald Trump early last month unveiled a raft of proposed import duties on U.S. trading partners.
Since accelerating diplomatic efforts to avert the tariffs, Switzerland and its business leaders have managed to position the country among a group of 15 nations on a fast-track list towards brokering agreement with Washington.
Parmelin, speaking at an event in Zurich, said Switzerland needed to diversify its trade relations and that it was important not to depend too much on one trading partner.
Parmelin said the EU, the United States and China were his country's most important trade partners and the government was working to improve access to other economies.
The United States is Switzerland's single biggest export market.
(Reporting by Ariane LuthiEditing by Dave Graham)
Parmelin expressed hope that the trade talks between the Swiss government and the Trump administration would yield results by the beginning of July.
Switzerland was surprised to face steeper tariffs than its EU neighbors when the US proposed new import duties, prompting diplomatic efforts to avert them.
According to Parmelin, the EU, the United States, and China are Switzerland's most significant trade partners, and the government is working to improve access to other economies.
The United States is Switzerland's single biggest export market, highlighting the importance of maintaining strong trade relations.
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