US Commerce Department pushed for control of Swiss investment in trade talks, sources say [View all]
Source: Reuters
November 28, 2025 6:17 AM EST Updated 1 hour ago
ZURICH, Nov 28 (Reuters) - 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.
On November 14, the United States and Switzerland announced a framework agreement under which Washington would cut tariffs on Swiss goods to 15% from 39%, while Swiss companies pledged to invest $200 billion in the U.S. by the end of 2028. That was 10 days after a meeting between U.S. President Donald Trump and a group of Swiss business leaders at the White House which helped accelerate talks to roll back tariffs Trump imposed in August, the sources said.
Back in September, U.S. Commerce Secretary Howard Lutnick had urged Swiss negotiators to pledge investments for Washington to direct, similar to an accord the Trump administration said it had reached with Japan, the sources said. Alfred Gantner, co-founder of Partners Group and a member of the Swiss business delegation that met Trump, told Friday's edition of Switzerland's Tages-Anzeiger newspaper that top Swiss trade officials refused to put money at the disposal of the U.S.
"When the Americans demanded $100 billion to be used as they wished, as in the deal with Japan, they said Switzerland would never accept such a thing," Gantner said.
Read more: https://www.reuters.com/business/media-telecom/us-commerce-department-pushed-control-swiss-investment-trade-talks-sources-say-2025-11-28/
WTAF? These people really are psychotic.
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