Swiss Minister Emphasizes Switzerland’s Impact on US, Urges Exemption from Trump Tariffs
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Switzerland's economic affairs minister, Guy Parmelin, emphasized the country's significant contribution to the U.S. economy to avoid potential tariffs imposed by President Donald Trump. A delegation visited Washington after Switzerland was placed on a list of countries under scrutiny for unfair trade practices. Parmelin stated that it was uncertain if Switzerland could evade U.S. reciprocal tariffs but highlighted the benefits the country offers to the U.S., such as the elimination of industrial tariffs on almost all U.S. goods entering Switzerland. He mentioned that Switzerland is the sixth largest foreign investor in the U.S. and that Swiss companies employ 400,000 individuals in the U.S., providing them with high salaries. Parmelin expressed Switzerland's readiness to increase its investments in the U.S. to prevent tariffs. However, he acknowledged that addressing Trump's concerns about sales taxes might be challenging for Switzerland, as they are not inclined to eliminate the tax. Parmelin indicated that Switzerland would wait for the announcement on April 2 before engaging in further political discussions at a higher level.

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