Swiss Titans Appeal Directly to Trump to Slash Tariffs

Some of Switzerland’s most high-profile executives and business leaders have made a direct appeal to US President Donald Trump, aiming to secure a reduction in the tariffs recently imposed on the country. Sources familiar with the matter indicate that the billionaire founders of Partners Group and the chief executive officer of watchmaker Rolex were among the prominent figures involved in this private initiative.

The move comes amidst considerable frustration within the Swiss business community following the US administration's decision this summer to levy a 39% tariff on Swiss goods, marking the highest rate applied to any developed nation. While the Swiss government has engaged in regular discussions with the US on the issue, progress has been largely undisclosed, with President Karin Keller-Sutter recently declining to provide a timeline for the negotiations.

On Tuesday, a group of these executives held direct talks with President Trump and other US administration officials. President Trump acknowledged the meeting in a social media post, stating he had met "high level Representatives of Switzerland" to discuss trade issues, though he did not identify the individuals involved. Both Rolex and Partners Group declined to comment on the matter, and the Swiss government also refrained from disclosing participants, noting it was up to the attendees themselves to reveal their involvement.

A spokesperson for the Swiss Economy Ministry clarified that this was "a private initiative by Swiss business leaders, which was supported by the State Secretariat for Economic Affairs in its preparation, but is taking place independently of the Federal Council’s involvement." The ministry also welcomed the commitment shown by the companies, while reaffirming that the government remains primarily responsible for official negotiations, with Economy Minister Guy Parmelin in regular contact with US authorities, including US Trade Representative Jamieson Greer.

The success of this direct approach is yet to be seen, but other Swiss companies, eager for a swift resolution to the tariff impasse, are reportedly contemplating similar direct diplomatic efforts. These exporters are currently consulting advisors to weigh the benefits and drawbacks of joining the business push, remaining on the sidelines for now.

In his social media post, President Trump indicated that further talks would occur between Swiss officials and US Trade Representative Jamieson Greer, praising those at the meeting for a "job well done." It is believed that these business leaders hope their initiative can accelerate progress and help Switzerland foster a stronger relationship with the White House and President Trump, especially after the "disastrous" outcome of earlier negotiations that led to the shocking 39% tariff announcement in August.