Trump Says He Raised Swiss Tariffs After Phone Call With Swiss President

President Trump said on Wednesday at the World Economic Forum in Davos that he raised U.S. tariffs on Switzerland last year after a phone call with then-Swiss president Karin Keller-Sutter that, he said, "rubbed me the wrong way." Mr. Trump said he had initially set the tariff at 30 percent and then, after the call and other pushback from Swiss officials, raised it to 39 percent last August — a rate he noted was higher than the 15 percent deal reached with the European Union and the 10 percent deal with Britain.

He quoted Ms. Keller-Sutter as repeatedly telling him, "no, no, no, you cannot do that, 30 percent. We are a small, small country," and described her as "so aggressive." The Times article notes that around that time about two-thirds of Swiss exports to the United States were gold bullion and bars refined in Swiss foundries, and that the Swiss central bank has suggested gold should not be counted in the trade balance sheet.

Mr. Trump said he thanked Ms. Keller-Sutter, ended the call and set the rate at 39 percent, after which "all hell really broke out" and representatives from Rolex and others pushed to have the rate reduced. He said he eventually cut the tariff to 15 percent. Ms. Keller-Sutter's presidential term ended in December.

During his Davos remarks Mr.

Key Topics

Politics, Donald Trump, Karin Keller-sutter, Switzerland, World Economic Forum, Tariffs