Switzerland Nears Trade Resolution with U.S. Ahead of Davos Summit

Switzerland is nearing a breakthrough in trade negotiations with the U.S., with a letter of intent expected in the coming weeks. The deal, aimed at resolving tariff disputes, is likely to mirror the 15% duties agreed upon with the European Union. Swiss President and Economy Minister Guy Parmelin will join U.S. officials to finalize the agreement at January's World Economic Forum in Davos.

A delegation of Swiss business leaders, including executives from Rolex, Richemont, and Partners Group, recently met with former President Donald TRUMP to advocate for trade relief. The private initiative, supported but not led by the Swiss government, included symbolic gestures such as gifting a Rolex watch and an engraved gold bar for Trump's presidential library.

The Swiss Economic Affairs Ministry declined to comment on the specifics but confirmed ongoing negotiations between Federal Councillor Parmelin and U.S. Trade Representative Jamieson Greer. The discussions focus on reducing the U.S. trade deficit while securing favorable terms for Swiss exporters.