Switzerland's leading officials are expected to determine if big US promises will help to secure relief from Trump's trade policies. Top companies like Novartis and Roche began to reveal their US promises in a bid to ease Trump's tariffs
Roche's announcement yesterday came one day before Swiss Finance minister Karin Keller-Sutter and economic minister Guy Parmelin led a delegation during a three-day visit to Washington. Swiss officials are planning to promote how important Switzerland's business is in the US as they seek to encourage President Donald Trump not to hit the country of tariffs.
Swiss firms offer economic commitment to the US
The deputy chair of the Lower House Foreign Relations Committee Sibel Arslan, noted that Switzerland was shocked by tariffs that had first set higher than those for the European Union. Arslan also mentioned widespread support to Swiss Parliament for officials to show how many billions of Swiss companies are invested today and will be done in the future. “This is the only way. Now we have to see if the approach is down,” he added.
Klaus Stoehlker, a public -based consultant based in Zurich, argued that the Swiss delegation was in a “Travel of hope” In Washington despite the difficulty of Trump's allies, he has a removal from the tariffs.
“In economical speech, Switzerland is part of the US they can't ruin this Swiss golden egg.”
-Klaus stoehlker, public relations consultant.
Swiss officials were also shocked after the US announced its import duties as it removed its own tariffs in the industry last year. A well -known Swiss lawmaker said Switzerland should be told that it will invest $ 100 billion during his term. Considering the latest promises of Basel based in Roche and Novartis, Swiss officials have come to Washington prepared for heavy investment promises.
Big Pharma Giant Novartis first announced a planned $ 23 billion investment in 5 years in the US -based infrastructure on April 10. The firm identified That its initiative will provide to expand current manufacturing, research, and technology nationwide with 10 facilities, including 7 before. Novartis also maintained that its commitment would create nearly 1,000 new jobs at the firm and approximately 4,000 additional jobs in the US.
Roche also followed the rival of this pharma Novartis's announcement On April 22 a $ 50 billion US investment in the next five years. The firm expects to create more than 12,000 new jobs, including nearly 6,500 construction jobs, as well as 1,000 jobs in new and expanded facilities. The giant Pharma already has 12 manufacturing and 15 R&D sites throughout the pharmaceutical and diagnostic divisions.
Pharma giant Roche has maintained that its investment is in line with the government and part of the ongoing discussions between Switzerland and US engineering group ABB and chocolate manufacturer Barry Callebaut is among the seventh largest foreign investors in the US to make promises from Switzerland.
Switzerland shows financial muscle in the middle of the tariff date in Washington
Switzerland warned the Trump administration not to take its financial muscle despite all the promise of the United States economy shown by the Swiss firms. Swiss Economy Minister Parmelin warned The country can work against the US if it leads to the placement of companies “Brakes in some investments.” Arslan also acknowledged that Switzerland, that the export-focused economy is greater than many larger countries, should not be accepted to take advantage of.
Keller-Sutter had a telephone conversation with Trump several hours before he imposed a 90-day pause in his original tariffs. Pausing also cut off Switzerland's 31% trade levy at 10%, which is now applied to most countries.
Keller-Sutter has not yet met the US Treasury Secretary Scott Bescent during his visit to Washington, which will take place at the World Bank and International Monetary Fund Spring Meeting.
Data from the World Bank showed that the Swiss GDP per capita was around $ 100,000 in 2023, approximately 20% higher than the US The country is also home to almost three times as many fortunes global 500 companies per capita as US
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