Swiss President Blamed For Disastrous Trump Deal

By Staff, Agencies

Swiss President Karin Keller-Sutter is facing backlash after trade talks with Washington collapsed following a “disastrous” phone call with US President Donald Trump, the Financial Times has reported, citing sources familiar with the matter.

Trump announced a 39% levy – one of the highest globally – on Swiss goods on Friday, coinciding with Switzerland’s national day.

According to an FT report published on Sunday, Swiss negotiators believed they had secured a provisional deal for a 10% tariff, similar to the UK’s arrangement.

In exchange, Bern pledged nearly $150 billion in US-bound investment and stayed in contact with Trade Representative Jamieson Greer. Swiss officials approved the deal in July, believing it only needed Trump’s signature.

Finance Minister Keller-Sutter had claimed rare “access to Trump” last month, but during a 30-minute call Thursday—described as “disastrous”—Trump reportedly rejected the offer and focused instead on Switzerland’s $39 billion trade surplus.

“The call did not go well, in the sense that from the very first minute Trump made it clear 10% was not enough, and all he could focus on was Switzerland stealing money from the US. There was nothing Keller-Sutter could say,” one source told the FT.

Trump reportedly asked what more the “very wealthy” Alpine country could offer.

Swiss media called the outcome Keller-Sutter’s “biggest fiasco,” with tabloid Blick likening it to the country’s worst defeat since 1515, when Swiss troops lost to France at the Battle of Marignano.

Greer later denied that a final deal had been secured, telling Bloomberg: “Nothing is agreed until everything is agreed.”

Trump’s April 2 ‘Liberation Day’ speech triggered a tariff hike, now set for August 7 after delays and a revised order targeting “trade imbalances.”