Swiss finance minister says tariff deal with US depends on Trump

Swiss efforts to secure a more favourable trade relationship with the U.S. are ongoing, Finance Minister Karin Keller-Sutter said on Thursday, after Swiss corporate bosses met with U.S. President Donald Trump earlier this week. 

Switzerland was left reeling after Trump imposed tariffs of 39% on Swiss imports in August, among the highest duties levied in his global trade reset.

Keller-Sutter, who has come under fire for her handling of the dispute, said she had fulfilled her duties as Switzerland's president when she spoke to Trump before the tariffs announcement.

"He did not agree with the negotiated agreement. Period," she told newspaper Blick in an article published on Thursday. 

"We have to live with that. The talks are continuing."

She remained tight-lipped on the negotiations, or whether an agreement could be reached this year.

"Ultimately, it is up to the U.S. president to decide whether or not to agree to a deal," Keller-Sutter said.

Swiss companies have also been working to persuade Trump to reduce the tariffs, with a delegation of business leaders meeting Trump in the White House on Tuesday.

The group, which included executives from shipping company MSC, watchmaker Rolex, investment firm Partners Group, commodities trader Mercuria, Cartier-owner Richemont and precious metals firm MKS, had organised to draw attention to the consequences of U.S. tariffs on their companies, Switzerland's economy ministry said. 

The government welcomed the initiative.

"Diplomatic and political exchanges are continuing with a view to achieving a rapid reduction in additional tariffs," the ministry added.