Washington: A delegation of Swiss business executives has reportedly played a pivotal role in thawing strained trade relations between Switzerland and the United States, potentially paving the way for a reduction in punitive U.S. tariffs on Swiss goods. The news, first reported by Swiss tabloid Blick, highlights how private-sector diplomacy may complement traditional government negotiations in resolving high-stakes trade disputes.
The trade tension dates back several months when the U.S. imposed tariffs of up to 39% on a range of Swiss exports, including watches, precision machinery, and other high-value goods. The tariffs, among the highest imposed by the United States in recent years, created immediate financial pressure on Switzerland’s export-driven economy. Swiss officials repeatedly expressed concern over the disproportionate nature of the levies and sought a negotiated solution to avert long-term economic damage.
The delegation included executives from Switzerland’s leading companies, such as Rolex, Richemont, Partners Group, MKS PAMP, Mercuria, and the shipping giant MSC. According to Blick, the business leaders met with former U.S. President Donald Trump in Washington to discuss strategies for easing the trade impasse.
Symbolic gifts, including a Rolex watch for Trump’s presidential library and a specially engraved gold bar, were reportedly presented during the meeting. In return, the Swiss delegation pledged measures to help reduce the U.S. trade deficit with Switzerland over the coming five to seven years, including relocating some gold refining activities to the U.S., investing in infrastructure, pharmaceuticals, and purchasing more U.S.-made aircraft.
Blick reports that a formal letter of intent may be issued in the coming weeks, potentially leading to a full agreement at the World Economic Forum in Davos in January 2026. If ratified, the deal could see U.S. tariff rates on Swiss goods reduced to levels more aligned with the European Union around 15% instead of the punitive 39% currently in place.
Swiss government officials have so far refrained from public comment but confirmed ongoing dialogue with U.S. trade representatives. Analysts suggest that the private-sector initiative, while unconventional, could offer a practical route toward an expedited resolution by presenting tangible economic commitments alongside diplomatic negotiations.
For Switzerland, the reduction of tariffs would relieve immediate pressure on key export sectors, particularly luxury watches and high-precision machinery, which heavily depend on U.S. demand. For the United States, the deal provides a mechanism to address trade imbalances while benefiting from increased Swiss investment in domestic infrastructure and manufacturing.
However, challenges remain. The agreement’s success depends on enforceable commitments, verification mechanisms, and the follow-through of Swiss companies on their pledged investments. Observers caution that while the private-sector-led diplomacy shows promise, it is not a substitute for robust governmental oversight and formal trade enforcement mechanisms.
The Swiss delegation’s U.S. visit has injected fresh hope into the bilateral trade dispute, demonstrating how business leadership can actively influence international economic policy. While uncertainties remain, the talks mark a step toward restoring confidence, easing tensions, and fostering more cooperative Swiss-U.S. trade relations in the months ahead.