A new agreement cuts import tariffs on Swiss goods and includes a massive investment pledge in the US economy

Swiss executives gave luxury gifts for US President Donald Trump shortly before Bern and Washington announced a new trade deal that reduces the steep US import tariffs, according to media reports.

The deal, announced on Friday, cuts the Trump administration's 39% tariff on the country's goods to 15% and includes a pledge by Swiss companies to invest $200 billion in the US economy. The tariff hike took effect in August, after Trump's 'Liberation Day' speech in April outlining a global trade overhaul.

The breakthrough reportedly followed a November 4 visit to the White House by Swiss executives, who presented Trump with high-value items, including a personalized gold bar and a gold Rolex desk clock. According to Axios, the bar, worth over $130,000, was engraved with 45 and 47 in reference to Trump's presidential terms and was accepted on behalf of his library under US gift rules. The delegation reportedly included senior figures from MKS, Rolex, Richemont, and commodity trader Mercuria.

The gesture drew criticism in Switzerland, with the Green Party calling the deal a "surrender agreement," and accusing the country's economic elite of bending to Trump's demands. Party leader Lisa Mazzone said consumers and farmers would ultimately "pay the price" for the concessions, while raising concerns about the "questionable methods and gifts of gold."

Swiss Economy Minister Guy Parmelin rejected the criticism, saying the country has not "sold its soul to the devil" and that the trip helped move talks forward. He noted that the executives had "good contacts in the US" and that some were friends of Trump "because they play golf with him."

Washington welcomed the outcome. US Trade Representative Jamieson Greer said the investment commitments would support domestic industry.

The agreement follows Trump's broader reset of US trade ties, under which several countries have negotiated revised tariff terms. In July, the EU accepted a 15% tariff on most goods and pledged major energy purchases and investments.

Trump has imposed sweeping tariffs on imports from US trade partners over the past year to address what he called unfair economic imbalances. Critics argue the higher charges have increased costs for US consumers.

(RT.com)