Executives From Rolex, Richemont And Other Swiss Firms Engage President Trump In High-Stakes Trade Discussions

As reported by Bloomberg and Reuters, in a show of unity among Switzerland’s corporate elite, some of the country’s most influential business leaders convened at the White House earlier this week to meet with President Donald Trump. The closed-door gathering, which brought together executives from several of Switzerland’s flagship industries, comes amid escalating trade negotiations aimed at reducing the steep tariffs recently imposed on Swiss exports to the United States.

Among those invited to the Oval Office were Partners Group co-founder Alfred Gantner, Rolex CEO Jean-Frédéric Dufour, Richemont Chairman Johann Rupert, Daniel Jaeggi of Mercuria, Diego Aponte of Mediterranean Shipping Company (MSC), and Marwan Shakarchi of precious metals refiner MKS Pamp.

The high-profile delegation underscored the weight of Switzerland’s business interests in the U.S. and the urgency to resolve one of the toughest tariff regimes the country has ever faced.

The Economic Imperative

Switzerland, whose economy relies heavily on exports, was levied with a striking 39% tariff earlier this year which is currently the highest rate imposed on any developed nation. The Swiss delegation’s coordinated outreach signals deepening concern within the business community about the long-term implications for trade and competitiveness.

Following the meeting, President Trump announced on Truth Social that he had hosted “high level Representatives of Switzerland” and directed U.S. Trade Representative Jamieson Greer to initiate follow-up negotiations.

In a joint statement, as reported by Hodinkee, the Swiss executives clarified that while they supported ongoing diplomatic talks between Bern and Washington, their role in the meeting was advisory rather than negotiative. “While we gave our support to the ongoing negotiations between our two governments, we did not participate in any negotiations with the U.S. President. We expressed our belief that a bilateral trade agreement would further enhance economic collaboration in a manner beneficial to Switzerland and the United States,” the group stated.

The Swiss Federal Council and the State Secretariat for Economic Affairs later confirmed their awareness of the encounter, adding that the discussions occurred “independently of the Federal Council’s involvement.”

This marks the latest in a series of strategic overtures between U.S. and Swiss entities. In September, President Trump was photographed alongside Rolex CEO Jean-Frédéric Dufour during the U.S. Open men’s final in New York, where he attended as a guest of the watch brand. The latest Oval Office meeting follows recent commitments by Swiss companies Mercuria and Partners Group, which jointly pledged over $6 billion in U.S. energy investments, an effort widely interpreted as a goodwill gesture to ease trade tensions.

Governmental Oversight And Support

According to reports from SWI, the international arm of the Swiss Broadcasting Corporation (SBC), other major Swiss exporters are now weighing direct participation in similar diplomatic efforts. While these firms have yet to step forward publicly, several are said to be consulting advisers on how best to engage with U.S. counterparts.

Also as published in an article on SWI swissinfo.ch, the Swiss Economy Ministry has welcomed the private sector’s involvement, noting that “the government remains in charge of negotiations.” Economy Minister Guy Parmelin is reportedly maintaining direct contact with U.S. officials, including Trade Representative Greer. Still, Switzerland’s business leaders appear eager to accelerate progress and rebuild trust with Washington following the sudden tariff announcement in August that stunned the nation’s manufacturing and luxury sectors.

The Core Of The Crisis: 39% Tariffs

The backdrop to this renewed engagement dates to April 2025, when President Trump unveiled sweeping reciprocal tariffs on imports from more than 180 countries, including a universal 10% baseline rate. Despite Switzerland’s longstanding neutrality and significant U.S. investment presence, the country was hit with a 39% rate on all imports beginning August 1, 2025, which is triple the rates imposed on other watchmaking nations like Japan and Germany.

For industries such as high-end watchmaking, the repercussions are particularly severe. The U.S. remains the largest importer of Swiss watches, accounting for $5.2 billion in exports last year - roughly 17.6% of total Swiss watch exports. Analysts warn that the tariffs could have a profound ripple effect across Switzerland’s watch, commodity, and precision manufacturing sectors unless an accord can be reached soon.

With negotiations poised to resume under intensified scrutiny, the latest White House meeting may represent a pivotal turning point, one where the private sector, in its distinctive Swiss fashion, steps quietly yet decisively into the diplomatic arena.

Looking Ahead

For Switzerland, its export-reliant economy, anchored by world-leading watchmakers, pharmaceutical firms, and financial institutions, depends on maintaining favorable trade terms with major markets like the United States.

Whether this rare instance of boardroom diplomacy can meaningfully shift the policy landscape remains to be seen. But for now, the meeting marks an inflection point: a sign that even the famously reserved Swiss are prepared to engage directly when the stakes for their industries and their economy are this high.

In the end, for global trade observers and business leaders worldwide, the outcome of this unique diplomatic mission will serve as a critical case study. It will measure the power of corporate statesmanship in an era of economic nationalism and determine the future of a trading relationship upon which billions of dollars and thousands of jobs depend.