Bern: Switzerland’s Economy Minister, Guy Parmelin, has firmly rejected accusations that the country compromised its values in securing a major tariff reduction from the United States. Speaking to the Swiss newspaper Tages-Anzeiger, Parmelin insisted that the new framework trade agreement with Washington does not constitute a betrayal of national interests, despite mounting criticism from political parties and civil society groups.

The accord, announced on Friday, marks a significant shift in U.S.–Swiss trade relations. Under the framework, American import tariffs on Swiss products are set to drop from an onerous 39 percent to a more moderate 15 percent. In exchange, Swiss companies are expected to invest roughly US$200 billion in the United States over the coming years.

Parmelin defen

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