‘Knives Out’: la Svizzera scende nel gioco della colpa dopo lo shock tariffario degli Stati Uniti

A blame game has erupted in Switzerland after the US announced an unexpected 39 per cent tariff rate on the Alpine country on its national day. Swiss President Karin Keller-Sutter is accused of grossly miscalculating the trade deal she thought she was able to secure with the Trump administration. Other critics are rounding on the country’s vast pharmaceutical industry for having sparked the ire of the US president. “It’s knives out,” a former Swiss diplomat said. Late on Thursday, Keller-Sutter held a “disastrous” phone call with Donald Trump, according to multiple people familiar with the situation. The 30-minute conversation capped more than three months and hundreds of hours of negotiations in which Swiss officials believed they were on track for securing a deal similar to the UK — a 10 per cent tariff rate. Instead, Trump announced a 39 per cent rate, one of the highest in the world — on Friday, when Switzerland was celebrating its national day. The Swiss media roundly criticised Keller-Sutter, with SonntagsZeitung calling the failed talks her “biggest fiasco” and tabloid Blick going as far as saying this was Switzerland’s greatest defeat since 1515, when it lost a battle against the French.

Swiss officials were blindsided because they were led to believe their talks with US trade representative Jamieson Greer and Treasury secretary Scott Bessent were going well and a provisional deal had been reached, the people said. In April, Switzerland said it was confident about securing an early trade deal as it was willing to pledge nearly $150bn in US-bound investment. Keller-Sutter, finance minister and president this year as part of the country’s rotating system, in July said she had found “access to Trump” — unlike many other countries struggling to secure meetings with US officials. The Swiss side was ready to agree to a tariff rate of 10 per cent, Trump’s baseline rate, according to two people familiar with the situation. This negotiating position was approved by Bern on July 4. But on Thursday’s phone call Trump only cared about one thing: Switzerland’s $39bn trade deficit with the US and what more the “very wealthy” Alpine country could offer. “The call did not go well in the sense that from the very first minute Trump made it clear 10 per cent was not enough and all he could focus on was Switzerland stealing money from the US,” said one of the people. “There was nothing Keller-Sutter could say.”

Greer on Friday described as an “overstatement” Bern’s belief that it had secured a text that was just awaiting Trump’s signature. “Nothing is agreed until everything is agreed,” he told Bloomberg. The result was a shocking 39 per cent tariff rate. Not only was it one of the highest globally, it was markedly higher than the 31 per cent levy on Switzerland Trump had announced in April on what he called “liberation day”. By comparison most other countries received a lower rate on August 1 compared with April. The Alpine country itself has already abolished all industrial tariffs and the US is the country’s top export market for goods including watches, chocolate and machinery. It is also a huge investor in the US, with Nestlé, Roche and Novartis employing thousands of Americans. Gold exports — often transiting through Switzerland for refining or trade — are largely responsible for the country’s trade deficit with the US. Yet both gold and pharmaceutical products are exempt from Trump’s “reciprocal tariffs”, adding to the bewilderment in Bern over what more it could offer.

Its bad for the moment but its a Lesson for future negotiations with USA.

Just wait. We continue to see the situation change on a daily basis. Eventually, once tariffs prove yet again they don’t work at these levels, they will go away.

Trade negotiations with the US are like a box of chocolates, you never know when you’re going to get boinked in the pooper.

Even here, you find every way to avoid making the observation.
You say that Trump is causing damage to the US, that the administration is full of idiots.
But no one analyzes why these idiots can do this.
You yourselves explain that it’s nothing, that it’s better than expected, that nothing is set in stone, that we just have to wait…

You are already subject to the whims of the US, counting on them to save you from themselves.
This self-domestication is crazy.

Switzerland’s $39bn trade deficit with the US = 39% tariff. Such a big brain move from the orange arse boil again.