Customs negotiations at the WEF US Treasury Secretary turns Parmelin into a Frenchman - and warns Switzerland against the EU
On the fringes of the WEF, the USA is pushing for a trade agreement with Switzerland. Treasury Secretary Scott Bessent relies on the leadership qualities of President Parmelin - and warns against getting too close to the EU.
21.01.2026, 09:53
21.01.2026, 11:44
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- US Treasury Secretary Bessent is seeking a fair trade agreement with Switzerland in Davos.
- Switzerland is willing to negotiate after the USA imposed high tariffs on Swiss products in 2025, which have since been reduced.
- Bessent criticizes European standards as a barrier to trade and warns against Switzerland's economic rapprochement with the EU.
US Treasury Secretary Scott Bessent hopes to conclude a "fair agreement" with Switzerland for US citizens. According to Bessent, a meeting with President Guy Parmelin is planned for Wednesday in Davos GR.
Bessent said on Wednesday morning on the sidelines of the World Economic Forum (WEF) that Parmelin is very well versed in economics. He has known him since 2025 and has a "very good relationship" with him. He is convinced that thanks to Parmelin's leadership qualities, an agreement that is fair for US citizens and ensures lasting prosperity is within reach.
However, he also made a small slip-up. When asked by a journalist, Bessent said: "Parmelin is a fantastic representative for the French", as reported by "20 Minuten".
Switzerland is an industrial stronghold, Bessent continued. However, he was concerned that it could move closer to the EU and that "European bureaucracy" could weaken the Swiss economy.
He also criticized European product standards that make it difficult to import US goods. These trade barriers must be removed.
Bern is ready for negotiations
The envisaged agreement between Bern and Washington should finally settle the customs dispute. Last year, the USA initially imposed a tariff of up to 39 percent on Swiss goods. After several months of talks, this tariff was reduced to 15 percent in November. A legally binding agreement to this effect is to be concluded by March 31.
The Federal Council approved its negotiating mandate for these negotiations last week. Davos could serve as a platform for the start of negotiations on the agreement. On Tuesday, Economics Minister Parmelin did not make any clear statements on this.
Trump "three hours late"
US President Donald Trump is also expected in Davos on Wednesday. He is expected to arrive late due to a plane breakdown.
According to Bessent, Trump is three hours late according to the "current schedule". According to the original WEF program, Trump was due to give a speech in the Congress Center at 2.30 pm.
