USTR Greer talks trade with Swiss as Swatch CEO blasts approach

US Trade Representative Jamieson Greer held a video name with high Swiss officers following this week’s diplomatic mission to the White House from captains of Swiss business, as the nation appears to be like to barter a discount within the punishing 39% tariff the US has imposed on Switzerland.

Greer held the digital assembly with his Swiss counterpart Helene Budliger Artieda and economic system Minister Guy Parmelin, in response to a Linkedin put up by the Swiss authorities late on Friday.

“Very constructive conversation with Ambassador Jamieson Greer on Trade and Investment,” the Swiss Federal Department of Economic Affairs stated within the put up. “Great new dynamic in our bilateral relations, thanks to President Trump.”

It options screenshots and pictures of all three in dialogue, and is adopted by dozens of likes and messages of encouragement from Swiss executives. The digital gathering follows the in-person assembly within the Oval Office earlier this week between the CEOs of high Swiss firms and President Donald Trump.

Those current included Alfred Gantner, the founding father of Partners Group Holding AG, Rolex SA boss Jean-Frederic Dufour, Daniel Jaeggi of commodity dealer Mercuria Energy Group Ltd, Richemont SA Chairman Johann Rupert, Diego Aponte of delivery agency MSC and Marwan Shakarchi of MKS Pamp SA, a gold refiner.

While Dufour and Rupert are each influential figures within the luxurious items business, their rival Nick Hayek, the outspoken CEO of Swatch Group AG took a really completely different tack.

“The only king I court is the customer,” Hayek informed Swiss newspaper Tages-Anzeiger, maybe in reference to the current ‘No Kings’ protests towards Trump’s presidency.

Hayek, whose firm is the world’s largest watchmaker, stated the CEOs’ go to despatched a sign of weak spot. Instead, he steered that Switzerland — the seventh-largest investor within the US — ought to retaliate by threatening to chop funding, or ditch a deal to purchase US-made F-35 jets.

“Are we William Tell,” he quipped in reference to the Swiss hero of folklore, “or are we a vassal?”

Trump’s tariff announcement, delivered on Switzerland’s nationwide vacation, landed Swiss exporters with a charge increased than some other developed nation. The levy, which took impact in August, threatens to drive up prices for chocolatiers together with Lindt, watchmakers and precision-tool producers.

Budliger Artieda has made repeated journeys to Washington in current weeks within the hope of resolving the deadlock. While demand for Swiss items has, in some instances, withstood the influence of the tariffs, Bern has reduce its development forecast for subsequent 12 months, acknowledging the chance of financial injury.