The US-China trade negotiations in Geneva, Switzerland, have concluded, with the friendly atmosphere created by the host country leading to Switzerland becoming the top candidate for reaching a trade agreement with the United States, according to US Treasury Secretary Benson’s statement on Monday, May 12th.
Benson made the remarks during a press conference in Geneva regarding Switzerland’s future role as an “intermediary,” as reported by Reuters.
“Both the UK and Switzerland have made progress in trade agreements, but the EU’s progress has been much slower,” Benson said.
Switzerland has long been committed to playing a bridging role in international crises. Analysts point out that Switzerland was particularly attentive this time, choosing to hold negotiations in the private residence of a UN ambassador to create an intimate atmosphere.
Jamieson Greer, the US trade representative involved in the negotiations, stated that most of the discussions with the Chinese side took place in the garden of an 18th-century luxury villa by Lake Geneva.
Greer praised the Swiss organization and hospitality as “perfect,” emphasizing that the atmosphere provided by the Swiss government greatly facilitated the agreement reached over the weekend.
Vincent Subilia, Director-General of the Geneva Chamber of Commerce, responded, “Secretary Benson sees Switzerland’s commitment to serving global interests while steadfastly defending its own interests.”
Prior to hosting the US-China delegation, Swiss officials met with Benson and his team last Friday, May 9th, to discuss trade negotiation issues between Switzerland and Washington.
Benson took to social media platform X over the weekend, stating, “Had a very productive meeting with Swiss Federal President Karin Keller-Sutter and Vice President Guy Parmelin.”
He added, “Swiss companies have expressed interest in investing 150 billion to 200 billion Swiss francs (approximately 172.5 billion to 230 billion US dollars) in new projects in the United States thanks to President Trump’s policies. We look forward to continuing negotiations.”
He expects Switzerland to submit a detailed proposal to Greer next week.
In April of this year, the US imposed a 31% tariff on Switzerland, compared to 20% on the EU and 10% on the UK. This decision shocked Swiss officials, leading major Swiss companies to commit to large-scale investments in the US.
Last week, the UK became the first country worldwide to reach a trade agreement with the Trump administration.
The EU, on the other hand, stated that it would not be forced into unfair US tariff agreements and proposed potential retaliatory measures.