The Week in Switzerland

Dear Swiss Abroad,

This week’s news was dominated by significant events in Switzerland and around the world.

On the international stage, the inauguration of Donald Trump as the 47th President of the United States commanded global attention and raised questions in Switzerland.

Domestically, the World Economic Forum (WEF) in Davos took centre stage, while Swiss media continued to focus on the succession of outgoing Defence Minister Viola Amherd.

Enjoy the read.

The big stories of the week

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How Trump’s executive orders could affect Switzerland

On Monday, the world watched as Donald Trump was sworn in as the 47th President of the United States of America. Shortly after his inauguration, he signed a series of controversial executive orders, including establishing a state of emergency at the Mexico border and withdrawing the US from the Paris Climate Agreement.

Several of the new administration’s decisions directly impact Switzerland. Trump’s plan to cut or restrict US contributions to various UN bodies has caused concern in international Geneva. The first major move – the withdrawal of the US from the World Health Organization (WHO), which is based in Geneva and receives 18% of its funding from the US – has notably been met with alarm.

Trump also announced the end of US backing for a global agreement establishing a minimum corporate tax rate of 15%, threatening retaliation against nations which enforce it on US multinationals. This decision significantly affects Switzerland, home to the European headquarters of several US companies.

• Watch: updates on the Trump administration’s decisions on Swiss public television, RTSExternal link (in French).

Keystone / Laurent Gillieron

Spotlight on Davos

Switzerland also drew the attention of the global media this week. The crème de la crème of business and politics gathered in the canton Graubünden resort town of Davos for the 55th World Economic Forum (WEF).

The return of Trump was a central theme at the event. Ukrainian President Volodymyr Zelensky meanwhile warned that “the world risks moving forward without Europe,” while European Commission President Ursula von der Leyen remarked: “The rules are changing, and even if we don’t like it, we must prepare for it.”

Trump’s speech to the WEF on Thursday, delivered virtually, was highly anticipated. He reiterated his tariff threats and invited businesses to relocate to the US to benefit from what he called “the lowest taxes on the planet.” However, he warned that companies choosing to operate elsewhere would face tariffs “running into the trillions.”

The WEF serves as a platform for high-level negotiations, which is why six of Switzerland’s seven Federal Councillors attended this year. Their presence provided an opportunity to restart talks with the US on a free trade agreement – negotiations which stalled under Joe Biden but gained traction during Trump’s first term.

• Coverage from WEF on Swiss public television, RTSExternal link (in French)

Keystone / Peter Schneider

No one wants the job: who will succeed Viola Amherd?

The Swiss media have continued to focus on the succession of Defence Minister Viola Amherd, who recently announced her resignation, effective at the end of March.

Despite the significance of the position, there appears to be little enthusiasm for the role. Gerhard Pfister (pictured above), who also recently resigned as President of the Centre Party, was the clear favourite. But in an interview with the Tages-Anzeiger newspaper last weekend, Pfister said he “would not be a happy Federal Councillor”. Another favourite, Martin Candinas, also dropped out of the race, saying that the job “doesn’t light his inner fire”. Other leading figures from the Centre Party have also indicated that they are not interested.

Several media outlets have noted the apparent lack of interest in one of Switzerland’s highest political offices. One article by the Aargauer Zeitung headlined: “A nightmare rather than a dream job”. The article highlighted three key reasons for the lack of interest: the dominance of right-wing ministers in the current government, which discourages Centre Party candidates; the polarisation of political life, which has led to more personal attacks on ministers; and the heavy workload, which takes a toll on private life.

• The article in the Aargauer ZeitungExternal link (paywall, in German)

Keystone / Christian Beutler

Tourism mega-projects in the Alps

Massive touristic developments like the one at Andermatt (pictured above) in canton Uri could become more common. The Swiss Alps seem to have become a new El Dorado attracting both Swiss and foreign investors.

A recent project in the Conche Valley, canton Valais, gives a flavour of the scale of these projects: the investment comes to some CHF100 million ($110.45 million) for a complex comprising 130 rental flats, restaurants, a wellness centre and even an artificial lake. “Such investments can only be profitable if you invest a lot,” said the project’s promoter on Swiss public television, RTS.

While these projects stimulate the local economy, they also drive up property prices, often making housing unaffordable for local residents. In Andermatt, for instance, the average price per square metre for a second home rose from CHF8,130 in 2014 to CHF22,050 in 2024.

• Full report on Swiss public television, RTSExternal link (in French)

Swiss oddities

Keystone / Martial Trezzini

Spring officially begins on March 20, 2025 – except in Geneva

In the international city, the start of spring is rather determined by a tree – a horse chestnut (Aesculus hippocastanum), to be precise. You can discover more about this tradition, which dates back to 1818, in the article below.

Picture of the week

Keystone / Peter Schneider

Swiss cinema took the spotlight this week with the opening of the 60th Solothurn Film Festival on Wednesday. This year, the festival highlights the Jura mountains, focusing on how the region has been depicted in film. 

The week ahead

Keystone / Georgios Kefalas

After a busy period, the coming week appears quieter, barring unexpected events.

In culture, highlights include the awards ceremony for the 60th Solothurn Film Festival on Wednesday and the Meret Oppenheim Swiss Art Prize presentation on Thursday.

Several Swiss economic heavyweights, including Glencore, Roche, Novartis and ABB, will also release their annual financial results.

Translated from French using DeepL/amva