The Swiss cabinet held an emergency meeting ahead of the visit to expand Parmelin’s negotiating authority and develop countermeasures. According to government sources, Bern believed it had secured a preliminary agreement closer to 10% in earlier rounds of talks with Trump’s trade team, including U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent. The sudden spike to 39%—announced following a call between Keller-Sutter and Trump—came as a surprise.

Although Keller-Sutter denies that her phone call triggered the increase, Bern has expressed regret over its inability to finalize a deal. Trump cited the U.S.’s $39 billion trade deficit with Switzerland as justification, though Swiss-American Chamber of Commerce data shows that surplus figures had shifted in Switzerland’s favor by April and May 2025 due to pharmaceutical stockpiling.

Swiss Delegation Offers Concessions To Protect Key Sectors

Parmelin, who also serves as vice president and represents the right-wing Swiss People’s Party, proposed boosting Swiss investment in the U.S.—including in liquefied natural gas (LNG) infrastructure—as part of the revised offer. The Swiss government also highlighted that it had already eliminated tariffs on over 99% of U.S. industrial exports as of January 2024.

State Secretary for Economic Affairs Helene Budliger Artieda and State Secretary for International Finance Daniela Stoffel are also part of the delegation. Industry groups warn that the tariffs could jeopardize tens of thousands of Swiss jobs in export-heavy sectors, and have called the U.S. move arbitrary and economically disruptive.