Published by Global Banking & Finance Review®
Posted on March 23, 2025
2 min readLast updated: January 24, 2026
Add as preferred source on GoogleSwiss minister Guy Parmelin stresses Switzerland's economic contributions to the US to avoid tariffs. Switzerland is a major US investor, employing 400,000 people.
ZURICH (Reuters) - Switzerland has highlighted the country's contribution to the U.S. economy as it seeks to avoid tariffs imposed by President Donald Trump, Swiss economic affairs minister Guy Parmelin said.
A delegation visited Washington last week after Switzerland was put on a list of countries being examined for unfair trade practices.
Parmelin said it was difficult to say whether Switzerland would avoid U.S. reciprocal tariffs, which are expected to take effect on April 2, although Swiss officials had explained the country's position.
"We have signalled we are ready to discuss and to show we have benefits for the U.S.," Parmelin told broadcaster SRF.
"We have abolished industrial tariffs. That means almost 99% of goods from the U.S. that come to Switzerland do so without customs duties. Probably other countries don't have that."
Switzerland was the sixth biggest foreign investor in the United States, and Swiss companies employed around 400,000 people in the country, with high salaries, Parmelin said.
"We are a strong investor ... and we want to invest more," Parmelin said.
Whether this was enough to prevent tariffs was still open, Parmelin said.
Trump's objection to other countries charging sales taxes could be difficult to deal with, Parmelin said, with Switzerland not wanting to abolish the tax.
Still, Switzerland wanted to wait to see what was announced on April 2.
"The high level political discussions will come afterwards," Parmelin said.
(Reporting by John Revill; Editing by Alison Williams)
The main topic is Switzerland's efforts to avoid US tariffs by emphasizing its economic contributions.
Switzerland sent a delegation to Washington to discuss its economic impact and trade practices.
Switzerland is the sixth biggest foreign investor, employing around 400,000 people in the US.
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