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According to a top Swiss official, The United States is reportedly preparing to launch “privileged” trade negotiations with a select group of countries.
Some shit you should know before you read: According to data from the Swiss Embassy in Washington, the US has been Switzerland’s most important goods export market since 2021, while Switzerland ranks as the fourth-largest market for US services exports. In 2023, the total volume of goods and services traded between the two countries reached $185.9 billion. Key Swiss exports to the US include pharmaceuticals, precision instruments, machinery, and luxury goods such as watches, while US exports to Switzerland consist primarily of industrial machinery, aircraft, medical equipment, and agricultural products. Additionally, Switzerland plays a significant role in global finance, and many wealthy US citizens leverage Swiss banking infrastructure for asset management. Both countries are also major investors in each other’s economies, reflecting a strong foundation of trust and economic cooperation.
What’s going on now: In a notable development, Swiss President Karin Keller-Sutter revealed that Switzerland is among a select group of 15 countries with which the United States intends to conduct what she described as “somewhat privileged” trade negotiations. Speaking to broadcaster SRF following her visit to Washington, Keller-Sutter said, “The United States has defined a group of 15 countries with which it wants to find … a quick solution in this tariff question. Switzerland is part of this group of these 15 countries.”
Her remarks followed a series of high-level meetings, including a one-on-one discussion with US Treasury Secretary Scott Bessent and participation in the International Monetary Fund’s spring conference.
Keller-Sutter expressed optimism about the tone and content of the talks, stating she was “satisfied” with the discussions in Washington. She confirmed that a memorandum of understanding, or a “Letter of Intent,” would be drafted to outline the key issues for negotiation. “We have also been assigned a specific contact person. This is not easy in the US administration,” she noted, stressing the complexity and significance of being designated a direct liaison within the US government.
While no specific timeline has been set, Keller-Sutter stressed that both sides are committed to moving forward swiftly, saying, “Uncertainty is poison for the economy.”
