By
Bloomberg
Published
November 9, 2025
U.S. Trade Representative Jamieson Greer held a video call with senior Swiss officials following this week's diplomatic mission to the White House by captains of Swiss industry, as the country seeks to negotiate a reduction of the 39% tariff the United States has imposed on Switzerland.
Greer held the virtual meeting with her Swiss counterpart, Helene Budliger Artieda, and Economy Minister Guy Parmelin, according to a Linkedin post from the Swiss government late on Friday.
“Very constructive conversation with Ambassador Jamieson Greer on trade and investment,” the Swiss Federal Department of Economic Affairs said in the post. “Great new dynamic in our bilateral relations, thanks to President Trump.”
It includes screenshots and photos of the three in discussion, and is followed by dozens of likes and messages of encouragement from Swiss executives. The virtual meeting follows an in-person meeting in the Oval Office earlier this week between the CEOs of major Swiss companies and President Donald Trump.
Among those present were Alfred Gantner, founder of Partners Group Holding AG, Rolex SA boss Jean-Frederic Dufour, Daniel Jaeggi of commodities trader Mercuria Energy Group Ltd, Richemont SA chairman Johann Rupert, Diego Aponte of shipping company MSC and Marwan Shakarchi of MKS Pamp SA, a gold refiner.
While Dufour and Rupert are influential figures in the luxury goods industry, their rival Nick Hayek, the outspoken chief executive of Swatch Group AG, took a very different tack.
“The only king I court is the client,” Hayek told Swiss newspaper Tages-Anzeiger, perhaps referring to the recent 'No Kings' protests against Trump's presidency.
Hayek, whose company is the world's largest watch maker, said the CEOs' visit sent a signal of weakness. Instead, he suggested that Switzerland – the seventh-largest investor in the United States – should retaliate by threatening to cut investment or abandon a deal to buy American-made F-35 jets.
“Are we William Tell,” he joked, referring to the Swiss folklore hero, “or are we a vassal?”
Trump's tariff announcement, delivered on Switzerland's national holiday, drove Swiss exporters at a higher rate than any other developed nation. The tax, which went into effect in August, threatens to increase costs for chocolatiers, including Lindt, watchmakers and precision tool makers.
Budliger Artieda has made repeated trips to Washington in recent weeks in hopes of resolving the impasse. While demand for Swiss goods has, in some cases, resisted the impact of tariffs, Bern has cut its growth forecast for next year, acknowledging the likelihood of economic damage.
