Beyza Binnur Donmez
09 May 2025•Update: 09 May 2025
- Swiss Federal Councilor Guy Parmelin says negotiations also advancing with China on modernizing free trade agreement
GENEVA
Switzerland is moving closer to a potential trade agreement with the US, with Swiss President Karin Keller-Sutter announcing a clear commitment from Washington to accelerate negotiations, while talks to modernize a longstanding free trade agreement with China are also showing progress.
Speaking after bilateral meetings in Geneva with US Secretary of the Treasury Scott Bessent and Trade Representative Ambassador Jamieson Greer, as well as Chinese Vice Premier He Lifeng, Keller-Sutter described a "constructive and friendly atmosphere" both with the US and China.
With the US, she said, both Washington and Bern are eager to reach an understanding swiftly.
"Both sides are determined to find a quick solution. That was clear and noticeable today, and there was also a clear commitment from the American side," she said.
Keller-Sutter highlighted that Switzerland could soon follow the UK, which recently reached an agreement in principle with Washington.
"The United States has concluded an agreement in principle with the UK, and based on that, the detailed discussions are now continuing. And that is probably today's main message: Switzerland should be one of the next," the president said.
"In the next one to two weeks, we will finalize a letter of intent on the Swiss side, deliver it to the Americans, and then a delegation ... will travel to Washington to continue the talks," she said.
Emphasizing the importance of economic ties, Keller-Sutter said: "We are important commercial partners. We're a very important direct investor in the US. When it comes down to manufacturing, we're number four, R&D number one. And so there is also an interest, of course, from the US side to find a solution with their most important trading partners."
Although a specific timeline remains uncertain, Switzerland is optimistic about its place in the US trade agenda.
"I was quite clear about the fact that they wanted to accelerate the process for Switzerland," the president said. "They couldn't guarantee that we would come second, but that we would really be in a group of countries that are now treated swiftly."
On the Chinese front, Federal Councilor Guy Parmelin confirmed that Switzerland met with a visiting Chinese delegation, which is also holding separate negotiations with the US in Geneva over the weekend.
"This meeting was also requested so that we could take stock of the discussions regarding the modernization of our free trade agreement with China — an agreement that dates back several decades," Parmelin said.
He noted that the first rounds of talks have produced "encouraging results," with another negotiation round scheduled for July in Switzerland.
"Switzerland is pursuing several objectives and, as mentioned before Parliament, our aim is primarily to improve our access to the Chinese market for a number of products that are currently not covered by the existing agreement," he added.
Describing the meeting with China as "extremely courteous and constructive," Parmelin said: "I believe that on both sides, there is a willingness to move forward and to try to find solutions at various levels."
Swiss authorities have also played a behind-the-scenes role in bringing the US and China together, as the government confirmed that "during its recent contacts in Washington and Beijing, Switzerland expressed to the US and Chinese authorities its willingness to organize a meeting between the two parties."
The US initially imposed a 31% tariff on Swiss exports – higher than the 20% on EU goods and 10% on UK products – a move strongly contested by Switzerland.
But in a sharp reversal on April 9, US President Donald Trump suspended most of the harsher rates for 90 days, keeping only a 10% blanket tariff in place, excluding China.
