Swiss CEOs charm Trump with gifts to slash US tariffs on luxury goods
A delegation of six prominent Swiss business leaders, including the CEOs of Rolex and Partners Group, recently met with former US President Donald Trump at the White House. The visit, which involved gift-giving and praise from Trump, has reportedly initiated successful negotiations to reduce tariffs on Swiss products in the US.
The Swiss delegation, which included heavyweights like Diego Aponte (MSC), Jean-Frédéric Dufour (Rolex), and Alfred Gantner (Partners Group), traveled to Washington to reduce the US tariff rate on Swiss goods from 39 percent. Their charm offensive appears to have been more successful than previous attempts by the Swiss Federal Council. Trump praised the delegation on his Truth Social platform and directed his trade negotiator, Jamieson Greer, to intensify direct negotiations.
The delegation presented Trump with a Rolex watch and a gold bar, a move that political scientist Reinhard Heinisch attributes to personal connections and ideological alignment between the Swiss business leaders and Trump. Elisa Volpi, a professor at Franklin University in Lugano, agrees that the gift played to Trump's fondness for gold and spectacle. However, she warns that uncoordinated contacts risk being seen as overstepping the Federal Council's leadership role in foreign economic policy.
The negotiations have reportedly made progress, with a tariff reduction to 15 percent seen as realistic. The EU already enjoys this reduced rate, indicating a potential breakthrough in the dispute.
The Swiss business leaders' visit to Trump has initiated successful negotiations, with a potential tariff reduction from 39 percent to 15 percent on the horizon. Trump's praise of the delegation and his directive to intensify negotiations suggest a positive outcome for Switzerland's tariff dispute with the US.
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