Swiss finance minister sees ‘clearly improved’ ties with US
G20 finance ministers and central bank governors attending the 2018 World Bank Group/IMF Spring Meetings in Washington on April 20, 2018
Keystone
Relations between Switzerland and the United States have improved under the Trump administration, Finance Minister Ueli Maurer told Swiss public radio, SRF, on Saturday.
Maurer, a member of the conservative right Swiss People’s Party, told SRF that “relations with the US have clearly improved” compared to the previous Barack Obama presidency, which was dogged by a long-running tax dispute and fines against Swiss banks.
Direct and improved contacts are possible between Switzerland and the US, which some people might be surprised about, he added: “The image we get of a rancorous [US] president, for example, does not correspond to reality. It’s quite remarkable and Switzerland benefits from it.”
The IMF predicts an ongoing recovery of the world economy, with global growth of 3.9% in 2018. It expects the Swiss economy to be “energized” by the global recovery and reduced status as a financial safe-haven. Swiss gross domestic product should reach 2.25% in 2018 before falling to 1.75% in the mid-termExternal link. The IMF, however, warns against greater protectionism, led by the US.
Maurer said Switzerland’s export-driven economy should be able to resist such pressures thanks to it being highly diversified. “We may be less affected than other states, even if such measures are effective,” he declared.
The Swiss minister sees other problems: “At the moment we are only talking about trade. But this protectionism also applies to services. And that almost worries me more, as we have no access to the European market.”
Switzerland participated in a meeting of G-20 finance minister and central bank governors ahead of the IMF and World Bank sessions. This is extremely important, Maurer added.
“I am trying to cultivate personal contacts, because it is always important for Switzerland as a small economy to have good contacts with the big ones,” he declared.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
This content was published on
Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled. Switzerland remains by a large margin the European champion of train travel, both in terms of the number of journeys per person and the number of kilometres travelled.
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
US trade disputes indirectly threaten Swiss economy
This content was published on
The Swiss State Secretariat for Economic Affairs (SECO) noted in its spring forecastExternal link on Tuesday that positive developments in the domestic job and consumer markets and foreign trade give cause for optimism. In December, SECO had forecast economic growth of 2.3% in 2018 and 1.9% for 2019. But SECO added that external events could…
This content was published on
In a phone call on Wednesday, Schneider-Ammann congratulated Trump on his election victory and underlined the good partnership between Switzerland and the US. Trump expressed his “respect” for Swiss stability, strong economy and apprenticeship system. He was particularly interested in the migrant situation in Europe. The Swiss president referred to the two countries as “sister…
This content was published on
“The completion of the resolutions with the banks that participated in the Swiss Bank Program is a landmark achievement in the Department’s ongoing efforts to combat offshore tax evasion,” said Caroline D. Ciraolo, Principal Deputy Assistant Attorney General, in a statementExternal link released by the DoJ on Thursday. Between July and December 2016, four Swiss…
This content was published on
Swiss access to global markets will be a priority when President Schneider-Ammann has his first talk with US President-elect Trump.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.