Karin Keller-Sutter, Switzerland’s president and finance minister, met Scott Bessent, the U.S. Treasury Secretary, in Washington on Thursday for what she described as a productive exchange. The two discussed ways to strengthen economic collaboration between their countries, reported RTS.
Switzerland is among 15 countries with which the United States is seeking a swift resolution to recent tariff concerns. Speaking to reporters after the meeting, Keller-Sutter said she believed the American president had triggered a global trade crisis earlier this month after announcing new tariffs. Yet, she added, it was equally clear that Washington was keen to open negotiations with some trading partners, and we are one of them, she said.
During the talks, both sides agreed to draft a joint declaration of intent that, it is hoped, will soon lead to a formal negotiating mandate. Economies can cope with poor laws and imperfect deals, Keller-Sutter said. What they cannot live with is uncertainty.
She welcomed what she termed a significant step forward: the U.S. government’s appointment of an official dedicated to coordinating contacts between the Treasury, the Department of Commerce, and Swiss authorities.
Ms Keller-Sutter, along with Economy Minister Guy Parmelin and representatives from the Swiss National Bank, was in Washington for the spring meetings of the International Monetary Fund (IMF) and the World Bank.
Following his meeting with U.S. Trade Representative Jamieson Greer, Parmelin emphasised Switzerland’s value as a trading partner. America, he said, was particularly interested in Swiss investment to bolster its efforts to bring industry back to the country, especially in pharmaceuticals and biotechnology. Mr Parmelin also announced that Linda McMahon, the U.S. Secretary of Education, is expected to visit Switzerland soon, to learn more about its vocational training and apprenticeship system.
Karin Keller-Sutter was cautious about the global outlook. The old order will not return, she warned. We are witnessing a clear upheaval—one that has been brewing but is now accelerating. Policymakers would need to adapt swiftly to a new set of international rules, adding: I am not sure this reality is yet fully understood everywhere, she said.
The Swiss delegation’s discussions were dominated by the fallout from America’s protectionist turn. Like many finance and trade officials from around the world gathered in Washington, Switzerland’s goal was to secure better trading terms with the United States—and to navigate an increasingly unpredictable global economy.
The Swiss President further stated that the tariff pause should remain in effect while the talks between Switzerland and the US are ongoing.
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