Published by Global Banking & Finance Review®
Posted on November 9, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleSwiss business leaders' visit to the US may ease 39% tariffs, with a potential new trade deal announced at the World Economic Forum.
ZURICH (Reuters) -Switzerland could be close to winning a respite from the 39% tariffs imposed by the United States on imports of its goods, newspaper Blick reported on Sunday, after a visit by business leaders to U.S. President Donald Trump helped thaw relations.
A letter of intent to break the trade impasse is expected in the next few weeks, the paper said, without citing sources, before a deal is presented at the World Economic Forum in Davos in January.
If everything goes as planned, Trump and next year's Swiss President Guy Parmelin, who is also economy minister, will present a plan for U.S. import duties comparable to the 15% tariffs Washington has already agreed with the European Union, the paper said.
The Swiss Economic Affairs Ministry declined to comment on the report, which follows a visit by Swiss business leaders with Trump on Tuesday.
It said the meeting, with executives from MSC, Rolex, Partners Group, Mercuria, Richemont and MKS, was a private initiative that it supported, but that was independent of its own efforts.
"The Federal Council is fundamentally responsible for negotiations with the relevant US authorities," the ministry said in a statement.
"Federal Councillor Parmelin is in regular contact with the relevant authorities in the US, including U.S. Trade Representative Jamieson Greer."
During the visit, the Swiss delegation presented Trump with a Rolex watch for his presidential library and a specially engraved gold bar, Blick reported.
The guests promised to work towards reducing the U.S. trade deficit with Switzerland over the next five to seven years, the paper said.
Other offers included relocating gold smelting operations to the United States in the next 12 to 24 months, and promoting infrastructure projects in the U.S.
Pharmaceuticals investments, and increasing Swiss purchases of aircraft from American manufacturers were also discussed, the paper said.
Trump showed goodwill to the proposals, Blick said, while on Friday Greer spoke with Parmelin and Helene Budliger-Artieda from the State Secretariat for Economic Affairs (SECO) in talks the Swiss side described as "very constructive".
(Reporting by John RevillEditing by Frances Kerry)
A trade deficit occurs when a country's imports exceed its exports, indicating that it is buying more from other countries than it is selling to them.
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