Switzerland Is Having an Economic Identity Crisis

After trade talks with Trump, the Swiss government is reconsidering everything it knows about itself.

A man silhouettes against an image of the new fifty Swiss franc banknote during its presentation by the Swiss National Bank on April 6, 2016 in Bern. August 21, 2025, 6:45 AM Comment icon View Comments ( )

It should have been a match made in heaven: Switzerland refines a third of the world’s gold supply; U.S. President Donald Trump, in his first six months in office, has plated the West Wing in gilded figurines, frames, Rococo mirrors—and even furnished a golden TV remote.

As recently as February, furthermore, you could find Switzerland’s Euroskeptic government praising the Trump administration’s populist rhetoric at the Mun

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