US Commerce Secretary Demands $100 Billion Investment to Be Under US Control, Switzerland Immediately Rejects: Treating Me Like Japan...
After Trump launched a "gold bar charm offensive," the long-stagnant US-Swiss trade agreement negotiations suddenly accelerated: both sides reached a preliminary framework agreement in early November, with the US reducing Swiss goods tariffs from 39% to 15%, and Switzerland committing to invest $200 billion in the US by the end of 2028, including increasing investment in American manufacturing.
However, new uncertainties arose. On the evening of November 28, according to a report by Reuters citing informed sources, the US Department of Commerce, during recent negotiations, requested that Switzerland's investment in the US be managed by the US side, a demand that was rejected by Swiss officials.
According to these sources, in early November, after meeting with a Swiss business delegation, Trump publicly instructed US Trade Representative Griles to restart negotiations with Switzerland on tariffs. During the negotiation process, Griles and US Treasury Secretary Bassett did not pressure Switzerland on the issue of investment control rights.
However, in the final stage of this month's negotiations, US Commerce Secretary Rutnik proposed that Switzerland allow the US to manage nearly $100 billion in investments, a move that triggered opposition from the Swiss side.
According to further information from the sources, as early as September, Rutnik had previously urged Swiss negotiators to make investment commitments similar to those in the US-Japan trade agreement: Japan agreed to invest $550 billion in the US, with the US almost entirely controlling the entire investment process. Rutnik has repeatedly stated that the US-Japan agreement can serve as a model for cooperation with other countries.
Regarding this, the US Department of Commerce denied it. Its statement said, "Commerce Secretary Rutnik did not meet with Swiss negotiators during October or November, nor did he urge them to amend any terms during the final stages of the agreement." The offices of Griles and the US Treasury have not yet responded.
However, Alfred Gantner, co-founder of private equity giant Partners Group, who participated in the White House meeting, confirmed in an interview with the Swiss newspaper Tages-Anzeiger on Friday that senior Swiss trade officials had rejected the US request to control the investment rights.
"The Americans wanted to use the $100 billion as they wished, just like in the Japan agreement, but Switzerland clearly stated it would not accept such conditions," Gantner said.
Original: www.toutiao.com/article/1850198712677444/
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