Swiss President Karin Keller-Sutter on US Trade Deal & China FTA

Accelerating US-Swiss Trade Agreement

• 🚀 The US and Switzerland are working to accelerate an "Agreement in Principle" for economic cooperation, aiming to be one of the next countries after the UK.
• 💡 This agreement seeks to reduce tariffs from 31% to 10% and address other non-tariff barriers, with Switzerland finalizing a letter of intent in 1-2 weeks.
• ✅ The 90-day tariff relief previously granted by President Trump will remain in effect during these ongoing discussions.
• 💰 Swiss companies' investments of 150 billion francs in the US and their role in workforce training are recognized as significant by the American side.

Modernizing the China-Switzerland Free Trade Agreement

• 🇨🇭🤝🇨🇳 Switzerland is actively pursuing the modernization of its decade-old Free Trade Agreement (FTA) with China.
• 🎯 The primary objective is to improve market access for Swiss products that are not currently covered by the existing agreement.
• 🗓️ A second round of negotiations with the Chinese delegation is scheduled to take place in Switzerland in July.

Addressing Economic and Trade Barriers

• 🔍 Key discussion points include tax questions, such as the blocked double taxation agreement, and the issue of subsidies, which Switzerland does not apply to its industry.
• ⚠️ The strength of the Swiss franc is also a recurring topic in discussions with US administrations.
• 🌾 Switzerland's agricultural policy presents specific limits to trade discussions, as the country aims to maintain a certain level of production autonomy due to its 50% dependence on foreign imports.

Switzerland's Role in International Diplomacy

• 🌍 Switzerland hosted bilateral talks between US and Chinese delegations in Geneva, which was welcomed as a sign of appreciation for its "good offices."
• 🤝 Both the American and Chinese sides thanked Switzerland for facilitating these important discussions and providing the conference venue.
• 🕊️ The Swiss view their role in reducing international tensions and fostering dialogue between major powers as beneficial for global stability.