"As Switzerland closes in on a deal with the US to lower tariffs on the country, it will owe thanks to some of its richest executives who played a key role in wooing President Donald Trump. If the shuttle diplomacy of Switzerland's top trade diplomat laid the groundwork for an agreement, crucial momentum was generated when businessmen led by billionaire figures from Richemont, Partners Group and Mercuria Energy Group Ltd. met Trump at the White House a week ago."
"The meeting, which also included Rolex Chief Executive Officer Jean-Frederic Dufour and Marwan Shakarchi, head of gold refiner and trader MKS PAMP Group, was like a gathering of old buddies, according to a person briefed on the encounter. That's in sharp contrast to the heated conversation that took place between the US president and his Swiss counterpart at the end of July, after which Trump slapped Switzerland with the highest tariff of any developed country."
Swiss executives including billionaires from Richemont, Partners Group and Mercuria Energy Group met President Donald Trump at the White House and helped generate momentum toward lowering U.S. tariffs. The meeting included Rolex CEO Jean-Frederic Dufour and Marwan Shakarchi of MKS PAMP. The encounter contrasted with a prior heated conversation between Trump and Switzerland's president, after which the tariff was set at 39%. Negotiations have aimed to cut the tariff to around 15%. Swiss business leaders emphasized they did not formally negotiate. Observers noted a deliberate Swiss strategy to leverage wealthy business influence given Trump's receptiveness to billionaires.
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