US Tariffs on Switzerland Plunged Amid Ties with Big Business, Critics Cry Foul
In a stunning display of economic pragmatism, President Donald Trump has agreed to significantly reduce US tariffs on Switzerland from 39% to 15%, a move that has sparked outrage among critics who claim the administration is prioritizing corporate interests over those of struggling Americans.
The two countries have inked a non-binding memorandum of understanding as part of a new trade pact, with Swiss officials committing to slash duties on a range of US products. For Switzerland's part, they will reduce tariffs on select American goods and grant quotas for exports duty-free.
At the heart of this deal lies a complex web of lobbying by top Swiss firms like Rolex, which has reportedly wooed Trump with gifts, including a golden table clock that now sits on his Oval Office desk. "The date for implementing these market access concessions will be coordinated with the US to ensure that customs duties are reduced at the same time," a Swiss government statement read.
Critics of the White House have seized on this move as evidence that Trump's chaotic tariffs policies, which have been blamed for increasing inflation nationwide, are being caved to by big business. Senator Elizabeth Warren (D-MA) aptly put it: "While prices for American families are going way up because of Trump's chaotic tariffs, it's the billionaires and giant corporations cozying up to Trump that get relief."
Trump's own remarks during a meeting with top executives from Switzerland have added fuel to this fire. When asked about his relationship with Swiss firms, he quipped: "Did ask in jest whether he would have been invited had it not been for the tariffs." A moment that reportedly brought laughter around the table.
Critics are also pointing out that these deals often lack transparency and detail, falling short of the substantial free trade agreements that take years to negotiate. As US Trade Representative Jamieson Greer boasted on CNBC, this pact is expected to usher in a new era of manufacturing investment from Switzerland worth $200 billion by 2028.
However, opponents are crying foul, labeling Trump's policies as corporate welfare. "They're going to send a lot of manufacturing here to the United States – pharmaceuticals, gold smelting, railway equipment," Greer claimed on CNBC, "so we're really excited about that deal and what it means for American manufacturing."
The timing and specifics of this pact remain unclear, sparking uncertainty over how its implementation will unfold. As Swiss officials prepare for direct investments in the US, critics are left to wonder: who exactly is benefitting from these deals?
In a stunning display of economic pragmatism, President Donald Trump has agreed to significantly reduce US tariffs on Switzerland from 39% to 15%, a move that has sparked outrage among critics who claim the administration is prioritizing corporate interests over those of struggling Americans.
The two countries have inked a non-binding memorandum of understanding as part of a new trade pact, with Swiss officials committing to slash duties on a range of US products. For Switzerland's part, they will reduce tariffs on select American goods and grant quotas for exports duty-free.
At the heart of this deal lies a complex web of lobbying by top Swiss firms like Rolex, which has reportedly wooed Trump with gifts, including a golden table clock that now sits on his Oval Office desk. "The date for implementing these market access concessions will be coordinated with the US to ensure that customs duties are reduced at the same time," a Swiss government statement read.
Critics of the White House have seized on this move as evidence that Trump's chaotic tariffs policies, which have been blamed for increasing inflation nationwide, are being caved to by big business. Senator Elizabeth Warren (D-MA) aptly put it: "While prices for American families are going way up because of Trump's chaotic tariffs, it's the billionaires and giant corporations cozying up to Trump that get relief."
Trump's own remarks during a meeting with top executives from Switzerland have added fuel to this fire. When asked about his relationship with Swiss firms, he quipped: "Did ask in jest whether he would have been invited had it not been for the tariffs." A moment that reportedly brought laughter around the table.
Critics are also pointing out that these deals often lack transparency and detail, falling short of the substantial free trade agreements that take years to negotiate. As US Trade Representative Jamieson Greer boasted on CNBC, this pact is expected to usher in a new era of manufacturing investment from Switzerland worth $200 billion by 2028.
However, opponents are crying foul, labeling Trump's policies as corporate welfare. "They're going to send a lot of manufacturing here to the United States – pharmaceuticals, gold smelting, railway equipment," Greer claimed on CNBC, "so we're really excited about that deal and what it means for American manufacturing."
The timing and specifics of this pact remain unclear, sparking uncertainty over how its implementation will unfold. As Swiss officials prepare for direct investments in the US, critics are left to wonder: who exactly is benefitting from these deals?
. Anyway, back to this trade deal between the US and Switzerland... it's like, what even is the point of having tariffs in the first place? Can't we all just get along and have some decent cheese 
? I mean, I'm not saying it's that easy, but a guy can dream, right? And those Swiss folks with their Rolex gifts? I wonder if they've ever tried to fix a clock at home...
... i get it, trump's all about those corporate ties and making business buddies, but at what cost tho? 
american families are still feeling the pinch of higher prices because of his tariffs policies. and let's not forget those billionaires getting a sweet deal out of the back door... 
... doesn't seem right to me... 
what i'd love to see is more transparency on these deals so we can know who's really getting the benefits... 
seems like a classic case of corporate welfare, but at least it means some manufacturing jobs might come back to the states... still not enough for me tho 
meanwhile americans stuck with higher prices and no free trade lol what's the real prize here $200 billion in manufacturing investments or just more jobs for billionaires 
Those struggling Americans are still living with inflation woes and it's just not fair 
. I mean, come on, can we please get some transparency around these deals? 
It feels like the people aren't being heard or considered here 
. I'm all for free trade and growth, but not at the expense of those in need 
. This just doesn't sit right with me...
A golden table clock on Trump's desk = sweet deal for Rolex. 
like, cant we jus have equal opportunities 4 evryone?! 
& btw what's w/ these deals b4in transparency? sounds like corporate welfare 2 me 
This whole deal reeks of "we're gonna benefit you" while "you're just a struggling American" vibes 
. It's all about who's got the most clout and influence, you feel? 
The answer, sadly, is probably American consumers like you and me 
... it's all about the corporate interests over people's livelihoods