Swiss Refusal: Washington's Investment Quest in the U.S.-Switzerland Trade Talks

Recent trade discussions between the U.S. and Switzerland saw a firm Swiss refusal to allocate discretionary investments pushed by the U.S. Commerce Department. Despite pressure to follow a Japan-like model, Switzerland pledged $200 billion in U.S. investments without granting control over fund allocation.

The U.S. Commerce Department lobbied Switzerland to invest billions of dollars for Washington to allocate at its discretion during recent trade talks. However, Swiss officials firmly declined, sources familiar with the situation reported.

On November 14, a framework agreement was announced by the U.S. and Switzerland that involves Washington cutting tariffs on Swiss goods, while Switzerland commits to $200 billion in investments in the U.S. by the end of 2028. This development followed a meeting between President Donald Trump and Swiss business leaders, which accelerated the talks originally hindered by tariffs imposed by Trump in August.

Commerce Secretary Howard Lutnick had suggested an investment pledge similar to a deal made between the U.S. and Japan earlier. Nonetheless, Alfred Gantner of Partners Group, a member of the Swiss delegation, confirmed that Swiss officials rejected putting the money under U.S. discretion, an approach Switzerland staunchly opposed. The Swiss Economy Ministry chose not to comment further, while the U.S. Commerce Department remained silent on the issue.

(With inputs from agencies.)