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Switzerland steps up as a U.S. ally in the trade war

by Dr. Wolfgang Klietmann escalate tensions and address the States also sold $9 billion more in Federal Foreign Minister Heiko Maas, SPD, with the Deutschland-
structural trade imbalances that services than it purchased.
President Trump is levying tar- have angered President Trump. jahr team © Thomas Imo/photothek.net
iffs on several major trading As a result, the total U.S. trade
partners. And they're striking For inspiration, they could deficit with Switzerland was less Wunderbar together
back. look to Switzerland, a famously than $5 billion – a pittance com-
neutral country that has quietly pared to our $375 billion deficit Join us for a year-long festival celebrating the German-American
China says it's prepared for carried on a balanced and mutual- with China and our $71 billion friendship through dialogue, experience, and exchange.
"the biggest trade war in economic ly beneficial trading relationship deficit with Mexico.
history" and promises to impose with the United States. We believe in German-American friendship. Our countries are united
retaliatory tariffs of "equal scale Swiss firms have also made through deep historical ties, shared values, and bold visions for the
and equal strength" on U.S. goods. Switzerland's economic ties to substantial direct investments in future. Join us for a year-long festival celebrating the transatlantic
The European Union has slapped the United States date back to the the United States. partnership through dialogue, experience, and exchange.
tariffs on U.S. products ranging mid-1800s. As of 2016, Switzer-
from bourbon to motorcycles. land – which has a population of For example, drug manufac- Together we will show how closely our two countries are linked by
And Mexico has hiked tariffs on just 8 million people – was one of turer Novartis is bringing a $55 heritage, common values, and shared interests. In particular, the festival
$3 billion worth of American im- the United States' largest trading million gene therapy production events will illustrate how we can have a brighter future if we tackle
ports. partners. The two nations traded plant and 200 jobs to North Caro- global challenges together by focusing on dialogue, exchange, and
$115 billion in goods and servic- lina. Swiss chocolate maker Lindt, cooperation between people.
These countries are playing es. which has located half of its facto-
with fire – a full-blown trade war ries in America, is expanding its Wunderbar together aims to convey a multifaceted image of Germa-
could deeply damage their econo- The benefits flow both ways. Stratham, New Hampshire plant ny in the U.S. All areas relevant to society – ranging from culture,
mies since they're heavily depen- The United States imported $14 with a $201 million investment. business and industry, science, education, civil society, to sports – will
dent on exporting goods to billion more goods than it export- This March, Swiss synthetic floor- be explored. Germany and the U.S. are linked through a centuries-long
America. They'd be wise to de- ed to Switzerland. But the United ing company Gezolan opened a common history. German immigrants have helped shape the develop-
$12 million plant in Georgia. And ment of the U.S., while the successful development of post-war Germa-
in July, Swiss satellite manufac- ny is inextricably linked to U.S. engagement. Wunderbar together builds
turing company RUAG began on this success story and aims to deepen the transatlantic dialogue.
production at a Florida facility
which will ultimately support over Wunderbar together is financed by the German Federal Foreign
600 jobs. Office, implemented by the Goethe-Institut, and supported by the Feder-
ation of German Industries (BDI).
All told, Swiss firms have
plowed $224 billion into the Unit- Learn more at www.wunderbartogether.org and join us for an event
ed States, making the small alpine close to you.
country our seventh largest source
of foreign direct investment.
These companies support over
460,000 American jobs which pay
an average salary of $103,000.

Meanwhile, U.S. firms have
returned the favor by investing
$155 billion in Switzerland.

The Swiss immigrant Albert
Gallatin (1761-1849), who be-
came Secretary of the United
States Treasury and served under
presidents Thomas Jefferson and
James Madison, would no doubt
be proud of the current state of
Swiss-American trade relations.
Gallatin brought fiscal discipline
to the nascent United States and is
honored with a prominent statue
in front of the Treasury building in
Washington, D.C. The inscription
reads simply "Genius of Finance."

President Trump has targeted
several countries for their alleged-
ly unfair trade practices. But Swit-
zerland isn't in his crosshairs – and
for good reason. Swiss companies
and officials work hard to ensure
the trade relationship remains fair
and balanced. Other countries
ought to follow Switzerland's
lead.

Dr. Wolfgang Klietmann is a
former clinical pathologist and
medical microbiologist at Har-
vard Medical School. He is a
board member of the Swiss-Amer-
ican Chamber of Commerce's
Boston chapter.
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