Bern: Switzerland’s Economy Minister, Guy Parmelin, has firmly rejected accusations that the country compromised its values in securing a major tariff reduction from the United States. Speaking to the Swiss newspaper Tages-Anzeiger, Parmelin insisted that the new framework trade agreement with Washington does not constitute a betrayal of national interests, despite mounting criticism from political parties and civil society groups.
The accord, announced on Friday, marks a significant shift in U.S.–Swiss trade relations. Under the framework, American import tariffs on Swiss products are set to drop from an onerous 39 percent to a more moderate 15 percent. In exchange, Swiss companies are expected to invest roughly US$200 billion in the United States over the coming years.
Parmelin defended the scale of Swiss commitments, arguing that many Swiss industries had already been planning to expand operations in the U.S. due to market access opportunities and global supply-chain restructuring. “We haven’t made a pact with the devil,” he said. “This agreement aligns perfectly with Switzerland’s long-term economic direction.”
Swiss industry groups have embraced the deal, noting that it helps level the playing field with the European Union, which recently finalized its own tariff arrangement with Washington. Export-heavy sectors from precision manufacturing to luxury goods stand to benefit almost immediately.
However, opposition voices have been quick to raise concerns. Critics argue that Switzerland conceded too much and gained too little clarity in return. Reports that executives from Rolex, Richemont, and other major Swiss firms lobbied U.S. officials have fueled accusations that the agreement favors big corporations over ordinary citizens.
The left-leaning Social Democratic Party has expressed cautious approval, recognizing the economic gains while warning of possible risks. The Greens, in contrast, have denounced the accord as a “capitulation,” accusing the government of bowing to American pressure and undermining Switzerland’s independent economic model.
Though the framework has been welcomed by many in the business community, it remains non-binding. The Swiss Parliament must now examine the proposal in detail, and the agreement may ultimately be subject to a national referendum.
Officials expect the new 15 percent tariff to take effect in the coming weeks, providing early benefits for Swiss exporters while negotiations on a final treaty continue.
The deal arrives at a moment of intensified global trade realignment. For the United States, the tariff reduction strengthens economic ties with a trusted partner and secures substantial investment on American soil. For Switzerland, it ensures access to a vital export market and helps maintain competitiveness against its larger European neighbors.
Yet analysts warn that the agreement poses long-term questions for Switzerland’s political identity. Some fear that deeper integration with U.S. economic structures could challenge the country’s tradition of neutrality and its independent foreign-trade posture.
As parliamentary debate begins, the Swiss public is expected to scrutinize the agreement closely. Supporters will emphasize the benefits for exporters and industrial competitiveness, while opponents will draw attention to sovereignty concerns, transparency issues, and the social impact of shifting major Swiss investments abroad.
For now, Parmelin stands by his position: the agreement is not a dangerous compromise but a strategic opportunity. Whether Swiss voters agree will become clear in the months ahead, as the nation weighs one of its most consequential trade decisions in recent history.