Articles tagged with “economicdiplomacy”

Swiss officials are heading to Washington this week in an effort to prevent steep U.S. import tariffs by highlighting Switzerland's economic contributions to America. The delegation, led by Finance Minister Karin Keller Sutter and Economy Minister Guy Parmelin, aims to strengthen ties during the World Bank and IMF Spring meetings. The push follows major Swiss investments in the U.S., including Roche's $50 billion commitment and Novartis' $23 billion pledge. Switzerland ranks as the seventh largest foreign investor in the U.S., with firms like Barry Callebaut and ABB expanding operations. Officials warn that tariffs could discourage future investments. A recent call between President Trump and KellerSutter led to a temporary tariff reduction from 31% to 10%, but Switzerland seeks a permanent solution. PR expert Klaus Stoehlker called the trip a "journey of hope," emphasizing Swiss firms' role in U.S. jobs and returns for American investors like BlackRock and Vanguard. "Switzerland is deeply woven into the U.S. economic fabric," Stoehlker said. "It's not just trade—it's a partnership." The delegation hopes to convince U.S. leaders that punitive measures could harm mutual economic interests.