Switzerland flexes financial muscle ahead of tariff date in Washington

ZURICH, April 23 (Reuters) - Top Swiss officials will this week test whether big commitments to the U.S. can help secure relief from import tariffs, after pharma giant Roche followed its cross-town rival Novartis in announcing major investments in the United States.

Roche on Tuesday said it would invest $50 billion in the United States over the next five years, a day before Swiss Finance Minister Karin Keller-Sutter and Economy Minister Guy Parmelin lead a delegation on a three-day visit to Washington.

They want to underline how important Swiss business is to the United States as they seek to persuade President Donald Trump not to hit the country with tariffs that were initially set significantly higher than those for the European Union.

Switzerland was shocked by the tariffs and there is broad support in parliament for officials to show how many billions Swiss firms invest now and will do in future, said Sibel Arslan, deputy chair of the lower house foreign relations committee.

"This is the only way," the Green Party lawmaker told Reuters. "Now we'll have to see whether the strategy comes off."

After the U.S. announced its import duties, one prominent Swiss lawmaker said Switzerland, which abolished its own industrial tariffs last year, should tell Trump it would invest $100 billion during his term. Others floated higher numbers.

Purely between Basel-based Roche and Novar...
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