TARIFFS: Switzerland Should Be In Line For US Trade Deal - Swiss President

Reuters carrying comments from Swiss President Karin Keller-Sutter talking up the prospect of striking a US-Swiss trade deal during US Treasury Secretary Scott Bessent’s visit to the country, where he will also hold talks with Chinese Vice Premier He Lifeng. 

• Keller-Sutter says Switzerland, “should be one of the next countries to reach an agreement in principle with the US,” noting that “Switzerland does not subsidise industry” – one of the primary non-tariff barriers the Trump administration is trying to eliminate.
• Keller-Sutter says Switzerland expects to be “treated equally” and is in a “group of countries that are now treated swiftly”.
• Keller-Sutter says the strength of the Swiss franc is a “recurring topic of discussion” and says Switzerland “keeps explaining the mandate of SNB is price stability”.
• Reuters notes that Swiss economy minister Guy Parmelin says it's, “possible that the US and China agree to a mutual suspension of customs duties for duration of talks”.
• While a tariff pause appears unlikely, US President Donald Trump indicated today he may be willing to reduce tariffs on China: “80% Tariff on China seems right! Up to Scott B.,” he said on Truth Social. Although still prohibitively high, a reduction of any kind could signal to markets the administration is prepared to dial down tensions with Beijing.
• More importantly, Trump’s message on Truth Social appeared to empower Bessent to negotiate a deal. In testimony to Congress this week, Bessent said Trump would have “final say” over all trade deals, a comment that hinted the weekend’s talks would be primarily about restoring lines of communication rather than substantive trade terms.