US President Donald Trump has made a last-minute concession to big business by agreeing to cut tariffs on Switzerland from 39% to 15%, sparking criticism that he is prioritizing corporate interests over those of struggling Americans.
The new trade pact, which includes a non-binding memorandum of understanding between the two countries, aims to ease tensions and promote economic cooperation. However, critics argue that this move will disproportionately benefit wealthy corporations rather than everyday Americans, who are already feeling the pinch of rising inflation.
Senator Elizabeth Warren has seized on the deal, labeling it "a moment that brought a round of laughter all around" when Swiss executives met Trump at the White House and joked about the tariffs. She accused him of putting corporate interests ahead of those of ordinary citizens.
In reality, Rolex and other Swiss firms have been lavish in their praise for Trump, with the luxury watchmaker's CEO Jean-Frédéric Dufour claiming that no negotiations over tariffs took place. Meanwhile, Trump was gifted a golden table clock by Rolex, which was later spotted on his desk in the Oval Office.
The US trade representative Jamieson Greer has hailed the deal as a breakthrough, saying that it will allow Swiss exporters to compete more evenly with neighboring countries. However, the precise timing of the implementation and when the new tariffs and quotas will be enforced remain unclear.
One thing is certain: this latest "framework" trade deal will have significant implications for American manufacturing, with Greer claiming that Swiss companies are planning to invest $200 billion in the US by 2028. Whether these investments will actually materialize remains to be seen.
The new trade pact, which includes a non-binding memorandum of understanding between the two countries, aims to ease tensions and promote economic cooperation. However, critics argue that this move will disproportionately benefit wealthy corporations rather than everyday Americans, who are already feeling the pinch of rising inflation.
Senator Elizabeth Warren has seized on the deal, labeling it "a moment that brought a round of laughter all around" when Swiss executives met Trump at the White House and joked about the tariffs. She accused him of putting corporate interests ahead of those of ordinary citizens.
In reality, Rolex and other Swiss firms have been lavish in their praise for Trump, with the luxury watchmaker's CEO Jean-Frédéric Dufour claiming that no negotiations over tariffs took place. Meanwhile, Trump was gifted a golden table clock by Rolex, which was later spotted on his desk in the Oval Office.
The US trade representative Jamieson Greer has hailed the deal as a breakthrough, saying that it will allow Swiss exporters to compete more evenly with neighboring countries. However, the precise timing of the implementation and when the new tariffs and quotas will be enforced remain unclear.
One thing is certain: this latest "framework" trade deal will have significant implications for American manufacturing, with Greer claiming that Swiss companies are planning to invest $200 billion in the US by 2028. Whether these investments will actually materialize remains to be seen.
like seriously what is goin on here? Trump is just givin away all this cash to big biz and they're gonna use it to make more fancy watches lol . I mean, i get it, american companies need help too but can't we find a way that doesn't leave the little guy behind? Warren is totally right tho , corporations r already makin a killin off of us with rising prices. And what's up with Rolex givin Trump a gift and expectin him to do their biddin? 
it's just fishy.
... One minute you're imposing these crazy tariffs, and the next you're cutting them down to almost nothing 
. I mean, I get it, big business likes a smooth ride, but at what cost? These multinational corps are basically getting a free pass while regular folks struggle to make ends meet 
. It's like they say, 'follow the money' 
... and I'm not convinced this deal is all about helping Switzerland 
. Still, I guess it's better than nothing, but we'll just have to wait and see how this plays out 
.
they're already struggling and now it seems like trump is helping out big businesses instead of us everyday people 
it doesn't seem right to me... I mean, i get that trade agreements are important and all but can't we just make sure everyone benefits? 
. I MEAN, 39% TARIFS TO 15%? THAT'S NOT A CONCESSION, THAT'S JUST GIVING BIG BUSINESS A FREE PASS!!! AND WHAT ABOUT THOSE STRUGGLING AMERICANS WHO CAN'T EVEN AFFORD TO BUY A DECENT WATCH WITHOUT BREAKING THE BANK?? 
i'm not saying swiss firms are all bad or anything but come on, $200 billion investment? where's the evidence we'll even see that happen? seems like a lot of hot air to me. anyway, this just goes to show how much politics can be influenced by cash and who's got the most gold 
. Now, I know Elizabeth Warren is mad about it, but did you see that Rolex CEO saying there were NO negotiations over tariffs? 
According to Forbes, the average household income in Switzerland is around $72k, while it's just $50k in the US... so who exactly is this deal benefiting? 
I'm all for fair trade deals that benefit everyday people, not just the 1% 
like senator elizabeth warren for trying to hold trump accountable. and honestly, if swiss companies really want to invest $200 billion in the US by 2028, let's see them back it up with actual numbers 
can't wait to see how this new trade pact plays out! and omg those rolex gifts are EVERYTHING 
