Photo: Swissinfo
Just a few hours before announcing a 90-day suspension of tariffs, Donald Trump had an important phone conversation with Swiss President and Finance Minister Karin Keller-Zutter.
According to Bloomberg, this conversation was one of the decisive factors in Trump's decision to soften his position in the trade confrontation.
At the same time, both the finance minister and the president of the country, Keller-Zutter, described the conversation that took place on April 9 as "open and constructive" on social media. She emphasized that Bern outlined its bilateral trade position and set paths for considering U.S. interests. The parties agreed to continue negotiations soon.
According to Bloomberg's analysis, the Swiss president got to the essence of the matter within half an hour and specifically emphasized facts that personally affected Trump's financial interests.
Keller-Zutter drew attention to her country's role in the U.S. economy: she highlighted that Switzerland ranks 6th in U.S. investments, 4th in the manufacturing sector, and 1st in research and development.
"I explained this to President Trump — and I think it played a significant role in the decision-making process," she said.
Previously, Trump intended to impose a 31 percent tariff on all goods coming from Switzerland — which is even higher than the 20 percent set for the European Union. This decision raised serious concerns in Bern: the Swiss economy is export-oriented, and such high tariffs would deal a severe blow to its key sectors.
Additionally, it became known that some luxury watch models of the "Trump Watches" brand are produced specifically in Switzerland. Among them are a $2,999 chronograph and a $100,000 Tourbillon model. Tariffs could have driven this production to the brink of bankruptcy.
At the same time, as the volume of gold imported from Switzerland to the U.S. sharply increased, and precious metal prices were setting historical records worldwide, Switzerland managed to achieve a suspension of tariffs.
Now the question arises: will Donald Trump reinstate tariffs after three months?
