LiveLive press conference –
“Is there a lesson learned by the Federal Council in this crisis?”Guy Parmelin returns to the accumulated disadvantagesKarin Keller-Sutter speaks first
Switzerland’s diplomatic journey to Washington having resulted in failure, the Federal Council met in emergency on Thursday and communicates the decisions taken after this meeting.
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The President of the United States, Donald J. Trump, decided to impose a 39% tax on Switzerland on all his imports. Economic circles immediately reacted by launching calls for help, especially at the political level.
The Federal Council heard these important concerns, and dispatched the president of the Confederation, Karin Keller-Sutter, and the vice-president, Guy Parmelin, in Washington to try to reason with Donald Trump. This diplomatic mission having resulted in a failure, the Federal Council met urgently on Thursday.
The decisions made at the end of this crisis meeting are communicated in a suitable press conference that we invite you to follow in our company this Thursday afternoon.
A German journalist asks the Federal Council if he has withdrawn teachings from this crisis, and does a self-criticism.
Mr. Parmelin replied that the intention of the diplomatic journey was not to resolve the crisis but to determine, “as we say in a good Vaudois, where the cat has a pain in the feet”, that is to understand what posed problem following the long and ardued negotiations, ultimately revoked by Donald Trump’s decision. He still hopes to finalize a deal with the President of the United States which would be much more advantageous.
Ms. Keller-Sutter recalls that, if something has been learned, it is above all on the behavior of Donald Trump and that these negotiations, often, end up with clashes in several components, and that this decision is therefore undoubtedly not final.
However, the direct consequences will be an increased pressure on negotiations and a substantial increase in prices, says the Minister.
The Minister wants to support the need to maintain a balance on the inner front. He recalls that perverse effects are not to be excluded when making decisions on internal economic regulations. However, he would like to study more intensely the feasibility of a “de-bureaucratization” of the export rules.
Official communication is now over, and the time is for the questions of journalists.
Guy Parmelin answers a critical question made about the ability of this Federal Council to manage negotiations with Donald Trump. The Minister recalls that the blow of the massage by Trump is not to the detriment of Switzerland only and that other nations have been also hardly affected. He concludes by saying that “it is the way of carrying out negotiations in the United States for the time to come and it will be necessary to get used to it.”
The Minister recalls that the teams of the departments concerned have been working tirelessly since April on the file.
She then claims that complicated times are to come, for the Swiss economy and its employees. The Federal Council will not release its efforts, promises Karin Keller-Sutter, but the decision ultimately belongs to President Donald Trump.
Machine manufacturers, metallurgical businesses and pharmaceutical firms are particularly affected recalls Guy Parmelin.
The Minister then recalls that RHTs are still available to businesses and indicates that the Federal Council intends to strengthen these measures.
The Federal Council also examines other measures in the field of working time reduction. The Federal Council also wants to examine other measures in the supervision of exports, but dismissals are still not to be excluded, regrets Guy Parmelin.
KEYSTONE/Peter Schneider
The Vice-President of the Confederation Guy Parmelin speaks following the president, who recalled that the Department of the Economy, supported by the Department of Finance, is responsible for monitoring the file.
Guy Parmelin recalls that these additional 39% customs duties add up to taxes already in force. These surcharges apply today, August 7. Mr. Parmelin recalls how economical Switzerland is disadvantaged compared to many economic competitors in its relations with the United States, such as the United Kingdom, members of the European Union or Japan.
The president of the Confederation Karin Keller-Sutter speaks first and briefly intersects her speech in German by a speech in French to bring all her support to producers and industrialists in Western Switzerland, who have an important part in the Swiss economic place.
KEYSTONE/Peter Schneider
She then made a brief reminder of the facts.
Economic circles have been quick to react to Donald Trump’s announcement. Qualifying the decision of «double uppercut» and preparing to face a “Dark future”the branch is not reassured by the prospects that this announces for the Swiss financial center.
Especially that the rescue operation organized by the Federal Council resulted in a bitter failurecoupled with a public humiliationwork of the American president.
Enough to make the worst fear for the rest of the events, a continuation of which the Federal Council was precisely this Thursday. In the temporary exit solutions of the crisis, several tools are mentioned, from the use of RHTs to the more severe taxation of pharmaceutical products, which seem to be particularly targeted by Donald Trump.
Hello and welcome to this live follow-up of the announcements of the Federal Council concerning the customs duties imposed by the United States!
On August 1, the American president announced Customs duties revised upwards For many countries around the world. Switzerland has integrated the top 10 of the hardest nations affected by Donald Trump’s policy.
To follow our live on the subject, Click here.
After the shock of the announcement, economic and political circles started to try to find a more reasonable solution than the 39% imposed by the United States.
However, the delegation of the Federal Council which went to Washington to try to find a compromise returned to be empty -handed. Following this setback, the Federal Council met in emergency on Thursday. The body must communicate its decisions regarding the following events in this file of crucial importance for the Swiss economy.
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The President of the Confederation and Minister of Finance, Karin Keller-Sutter, as well as the Minister of the Economy, Guy Parmelin, will address the media at 3:30 p.m. in Bern.
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