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US Commerce Department pushed for control of Swiss investment in trade talks: Reuters
Swiss officials rejected U.S. demands for discretionary control over $200 billion in investments despite agreeing to tariff cuts, sources said.
- The U.S. Commerce Department pushed Swiss negotiators to commit billions Washington could allocate, but Switzerland refused, while on November 14, the United States cut tariffs on Swiss goods to 15% from 39% and secured a $200 billion Swiss investment pledge by 2028.
- Back in September, U.S. Commerce Secretary Howard Lutnick urged Swiss negotiators to pledge investments Washington could direct, citing a parallel with a U.S.-Japan accord.
- The Commerce Department denied Lutnick pressed Swiss negotiators, while Gantner said Swiss officials rejected demands to place $100 billion at U.S. disposal, stating "When the Americans demanded $100 billion to be used as they wished...they said Switzerland would never accept such a thing," according to sources.
- Switzerland's Economy Ministry declined to comment on the talks and pointed to a statement issued two weeks ago pledging to facilitate investment in the United States.
- Unclear timing and a White House meeting, after which Trump publicly instructed the U.S. Trade Representative to resume tariff talks with Switzerland, according to sources.
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Swiss Diplomacy Defies U.S. Investment Demands
In recent trade negotiations, the U.S. requested billions of dollars from Switzerland in investments to be allocated by Washington, but Swiss officials declined. A framework agreement was reached to reduce tariffs and pledge investments, avoiding the discretionary control sought by U.S. officials.
·India
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US Commerce Department pushed for control of Swiss investment in trade talks, sources say
The U.S. Commerce Department pressed Switzerland during recent trade talks to commit billions of dollars in investments that Washington could allocate at its discretion, but Swiss officials refused, according to two people familiar with the matter.
·United Kingdom
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Total News Sources7
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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