11.02.2026 20:41
In his latest interview, U.S. President Donald Trump explained the reason behind the 39% increase in tariffs imposed on Switzerland, which has shaken the global economy. Trump stated that he made the decision to raise the tax rate following an unpleasant phone call with a Swiss leader. It is claimed that the individual Trump referred to is Karin Keller-Sutter, a member of the Swiss Federal Council and the president of the Council at the time.
In a recent interview with Fox Business, U.S. President Donald Trump explained the background of the 39% tariff imposed on Switzerland, which has caused a shock effect in the global economy. Trump personally admitted that he made the decision to raise the tax rate after a "displeasing" phone call with a Swiss leader.
"AGGRESSIVE ATTITUDE LED TO A TAX INCREASE INSTEAD OF A DISCOUNT"
In the interview, Trump referred to his conversation with Swiss Federal Council Member (and then Council President) Karin Keller-Sutter (whom Trump referred to as "the Swiss Prime Minister") and used the following statements that will go down in diplomatic history:
"She called me, she was very aggressive. She kept saying, 'We are a small country, you can't do this.' I didn't like the way she spoke. So I told her that instead of giving a discount, I raised the tax from 30% to 39% at that moment. I couldn't hang up the phone; she kept repeating the same thing."
TAX MOVE AGAINST A $42 BILLION DEFICIT
Trump described Switzerland's $42 billion trade surplus with the U.S. as robbing the U.S., arguing that even the initially planned 30% tax was "very low." However, in response to Keller-Sutter's defense of "We are a small country," he stated, "You may be small, but you have a large trade surplus against us," indicating that he did not back down.
ROLEX AND GOLD BARS DISPUTE
In a surprise agreement reached in November 2025, the tax imposed on Switzerland was reduced to 15%. However, the timing of this reduction caused a crisis in the U.S. Senate.
Trump claims that he made the tax reduction after Swiss giant companies, including Rolex, promised to invest $200 billion in the U.S.
The Senate Finance Committee is investigating whether the gold Rolex desk clock and the $130,000 gold bar gifted to Trump just before this reduction influenced the decision.