UPDATE 1-Swiss minister speaks to Bessent in U.S., gives no sign of progress on tariffs

Swiss Economy Minister Guy Parmelin said on Friday he had spoken briefly to U.S. Treasury Secretary Scott Bessent about the United States' 39% tariffs on Switzerland, but he gave no indication of progress on reducing the levies. Speaking to Swiss television, Parmelin said that contact between the Swiss and U.S. governments was ongoing on various levels and that he had spoken to Bessent for "a few minutes".

Swiss Economy Minister Guy Parmelin said on Friday he had spoken briefly to U.S. Treasury Secretary Scott Bessent about the United States' 39% tariffs on Switzerland, but he gave no indication of progress on reducing the levies.

Speaking to Swiss television, Parmelin said that contact between the Swiss and U.S. governments was ongoing on various levels and that he had spoken to Bessent for "a few minutes". "But that was very brief," Parmelin told Swiss national broadcaster SRF during a visit to Washington. "We're staying in contact, including at a technical level. The federal cabinet will communicate as soon as we have progress to report."

Parmelin was also asked whether he believed his country could reach a deal with the United States by the end of this month. He responded by reiterating that contact was ongoing. "Again, it's not possible to say more today," he said.

U.S. President Donald Trump's decision in August to impose the duties on Switzerland stunned the country, which eliminated its own industrial tariffs last year. Trump argued the tariffs were justified by the U.S. trade deficit with Switzerland. Since then, Switzerland's government has been working to lower the tariffs, assembling a package of measures aimed at cutting the U.S. deficit and increasing Swiss investment in the United States. But it has yet to strike a deal with Trump.

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