Opening Day Of World Economic Forum (WEF) 2026

The WEF Made One Thing Very Clear: If Democrats Win We Are Totally Screwed

Canada

Europe

European Union

Globalization

Leftists

Mark Carney

Matt Walsh

NATO

Opinion

Switzerland

World Economic Forum

President Trump did something extraordinary in Davos. He gave a speech targeting our European allies, telling them that they need to up their game in terms of defense, economics, and their own national sovereignty.
Then he pried a deal away from Denmark with regard to Greenland.
The markets were very concerned about the possibility that President Trump was going to hit all of Europe with these gigantic tariffs based on a desire for sovereignty over all of Greenland.
But that is no longer the case. A deal has been cut.
The really big story here is how the President of the United States is calling on Europe to stand up for itself.
The president said that his goal in saying all of this wasn&#8217;t just to dunk on the Europeans. Obviously, his goal was to revitalize what he called a “precious” culture, shared by Americans and Europeans.
“The explosion of prosperity and conclusion and progress that built the West did not come from our tax cuts,” he stated. “It ultimately came from our very special culture. This is the precious inheritance that America and Europe have in common. We share it. But we have to keep it strong. We have to become stronger, more successful, and more prosperous than ever. We have to defend that culture and rediscover the spirit that lifted the West from the depths of the Dark Ages to the pinnacle of human achievement.”
He also suggested that Europeans have failed themselves in pursuing a green energy-based economy.
When the man&#8217;s right, the man is right.
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The real message the president was there to deliver is that the Europeans ought to be both independent, but also recognize that they are reliant on the United States.
In that vein, he went after Mark Carney, the prime minister of Canada. Carney gave a peculiar address with regard to the United States in which he suggested that the era of American dominance was over. And Trump basically said, well, that&#8217;s weird, since if it weren&#8217;t for us, your continent would be a little bit more at risk. We are your defensive shield. We&#8217;re building a golden dome that just by its very nature is going to be defending Canada.
“Canada gets a lot of freebies from us, by the way,” Trump said. “They should be grateful also, but they&#8217;re not. I watched your prime minister yesterday. He wasn&#8217;t so grateful. They should be grateful that Canada lives because of the United States. Remember that, Mark, the next time you make your statements.”
The president also articulated the favorite line of those of us on the Right, which is that if it had not been for the United States’ involvement in Europe, everyone would be speaking German and Japanese.
“The problem with them, though, is that we&#8217;ll be there for them 100%,” he said. “But I&#8217;m not sure that they&#8217;d be there for us if we gave them the call.”
You can see why the Europeans are feeling a bit peevish right now.
We&#8217;ll have to see how they react to everything that&#8217;s going on. Are we again entering a period of a multipolar world order, or is the president just flexing American muscles a little bit more than usual in an attempt to get everybody back on the same pro-America, pro-Western page? That remains a bit of an open question.
All of this ties into what the broader American orientation is toward the world. Is it America First, or is it America Alone? Is it a multipolar world order, or is it an American-led world order where we are more muscular in pursuit of our own interests, and we expect more from our allies in helping us out with those interests?
That remains the big question coming out of Davos. It was the big question going in.
I&#8217;m not sure that the question has been fully answered at this point in time.

U.S. President Trump Attends World Economic Forum In Davos

Trump’s Davos Doctrine: A Muscular Reassertion Of The West

Trump's Davos Doctrine: A Muscular Reassertion Of The West

Davos

Donald Trump

Energy

The following is an edited transcript from <a href="https://www.dailywire.com/episode/ep-1895-president-trump-s-trip-to-the-world-economic-forum-explained-in-5-minutes?elementPosition=0&amp;row=0&amp;rowHeadline=Recent+Episodes&amp;rowType=Horizontal+Show+Episodes+Carousel">The Michael Knowles Show</a>.
* * *
What is the broader, deeper vision of the World Economic Forum? Bestselling author Yuval Noah Harari actually sums it up quite well. Harari is close to Klaus Schwab who, of course, was the longtime head of the World Economic Forum. Harari has effectively become the &#8220;court intellectual&#8221; of the WEF, and he has been unusually candid about what he thinks the future holds.
Harari has said openly that as we look into the future, the world is going to be run by artificial intelligence. Anything involving language — up to and including the Bible and religion itself — is going to be taken over by AI.
In his own words, Harari explains it this way:
<blockquote class="twitter-tweet">
Yuval Noah Harari speaking at the World Economic Forum just said that AI will soon take control of the Bible, and all the words written in it. The Bible absolutely accepts that challenge. Game on.
&#8220;The words of the LORD are pure words: as silver tried in a furnace of earth,… <a href="https://t.co/rA8S6YpQcT">pic.twitter.com/rA8S6YpQcT</a>
— Now The End Begins (@NowTheEndBegins) <a href="https://twitter.com/NowTheEndBegins/status/2013645014937604424?ref_src=twsrc%5Etfw">January 20, 2026</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Credit: @NowTheEndBegins/X.com
I’ve thought about Yuval Harari for a while now, and he could not make himself seem more villainous if he tried. He leans into it. He’s auditioning to be the Bond villain. He presents himself as the herald of the end times.
Now, to be fair, he’s not totally wrong about the influence of AI. AI has crept into all of our lives in one way or another. And we even cooperate with it constantly. In that sense, he’s right. But he gets the fundamental things wrong.
First of all, he says Jews refer to themselves as “the people of the book.” That’s a half-truth. Some people say it today, but Jews did not originate that phrase. Do you know where “people of the book” actually comes from? It comes from Islam. It’s a phrase from the Qur’an, used to refer to Jews and Christians in an attempt to present Islam as part of that same tradition.
“People of the book” is a Muslim term that Jews — and some Protestants — later appropriated. But when you really get down to it, setting Islam aside entirely, Judaism and Christianity are not fundamentally religions of the book.
They are religions of sacrifice.
It is true that since the destruction of the Second Temple in 70 A.D., Jews gather and conduct religious services in synagogues. But before that, Judaism was a religion of Temple sacrifice. Christianity, crucially, is also a religion of sacrifice. The centerpiece of Christian worship is the Holy Sacrifice of the Mass: the Blessed Sacrament, Christ in the Holy Eucharist — body, blood, soul, and divinity.
None of this diminishes the importance of Scripture. But Pope John Paul II corrected this misunderstanding beautifully when he said that Christianity is not the religion of a book. It is the religion of the Word of God. We are the people of the Word. Yes, we have Holy Scripture — inerrant and authored by God — but the center point is the Word Himself: the Word who became flesh and dwelt among us.
<div id="attachment_1031405" style="width: 874px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1031405" class="size-large wp-image-1031405" src="https://dw-wp-production.imgix.net/2026/01/GettyImages-2256691657-864x576.jpg" alt="Yuval Noah Harari, historian and philosopher, during the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 20, 2026. The annual Davos gathering of political leaders, top executives and celebrities runs from Jan. 19-23. Photographer: Krisztian Bocsi/Bloomberg via Getty Images" width="864" height="576" srcset="https://dw-wp-production.imgix.net/2026/01/GettyImages-2256691657-864x576.jpg 864w, https://dw-wp-production.imgix.net/2026/01/GettyImages-2256691657-300x200.jpg 300w, https://dw-wp-production.imgix.net/2026/01/GettyImages-2256691657-768x512.jpg 768w, https://dw-wp-production.imgix.net/2026/01/GettyImages-2256691657.jpg 1024w" sizes=" (max-width: 864px) 100vw, 864px" />Krisztian Bocsi/Bloomberg via Getty Images</div>
Once you understand that, Harari’s statement becomes even more jarring. He says that anything involving language, anything involving words, will be taken over and conquered by AI. But if the religion that animates our civilization is the religion of the Word — “In the beginning was the Word, and the Word was with God, and the Word was God” — then what Harari is really saying is that AI is going to conquer God.
<h3><a href="https://www.dailywire.com/episode/ep-1895-president-trump-s-trip-to-the-world-economic-forum-explained-in-5-minutes?elementPosition=0&amp;row=0&amp;rowHeadline=Recent+Episodes&amp;rowType=Horizontal+Show+Episodes+Carousel">WATCH: The Michael Knowles Show</a></h3>
Harari is a smart guy, so he may be aware that this is exactly what he’s saying, even if he doesn’t state it explicitly. And if he’s not aware of it, that somehow makes it even worse.
The belief that AI will conquer God is what a lot of liberal, humanist, materialist, and atheist globalists actually believe. This isn’t the product of a few years or even a few decades. It’s the culmination of centuries of liberal thought. They intend to make their own god, and AI will be that god. They will worship it.
It’s no different from the Old Testament, where pagans worshipped dumb idols that God repeatedly warned them not to worship, lest they become dumb themselves. And that’s exactly what’s happened.
That’s why all these fancy elites, who went to elite schools, who have lots of money and impressive jobs, seem so dumb. That’s why someone like Yuval Harari, who probably has a very high IQ and has read an enormous number of books, ends up saying things that sound so profoundly foolish.
And that’s why you end up needing a guy like Trump to barge in and tell them.

World Economic Forum Speaker Says, ‘AI Will Take Over Religion’

World Economic Forum Speaker Says, 'AI Will Take Over Religion'

Artificial Intelligence

Bible

Islam

Klaus Schwab

Koran

Michael Knowles

Scripture

President Donald Trump arrived in Switzerland on Wednesday, just a few hours before he was scheduled to deliver a speech at the World Economic Forum that is expected to touch on Greenland and the future of Venezuela. 
Trump landed in Zurich before boarding a helicopter to Davos, where he is set to give a speech at 8:30 am EST. During his visit, Trump is also expected to meet with other foreign leaders and attend a business lunch. 
“I believe it will be very successful, the trip. The country’s never done better.  We have 18 trillion dollars plus coming in,” Trump said before leaving Tuesday night. “We&#8217;ve never had anything like it, and no country has had anything like it. Prices are way down.  Gasoline now is $1.99 in a lot of places. And frankly, nobody&#8217;s seen anything like this. So it&#8217;s really good, but this will be an interesting trip.  I have no idea what&#8217;s going to happen, but you are well represented.”
Traveling with Trump to Davos are Secretary of State Marco Rubio, White House Press Secretary Karoline Leavitt, Chief of Staff Susie Wiles, Deputy Chief of Staff Stephen Miller, and Director of the National Economic Council Kevin Hassett, according to the White House. 
Trump arrived later than planned in Zurich after his first flight had to return to Joint Base Andrews in Maryland due to an electrical issue. The problem was reportedly minor, but the White House decided to switch planes out of an abundance of caution, Leavitt told reporters. 
Trump’s comments on Greenland, along with threats to impose tariffs on countries that block an American acquisition, have drawn much criticism from European leaders ahead of his speech.
“I will not yield,” <a href="https://www.nytimes.com/live/2026/01/21/us/trump-davos-greenland-news">said</a> British Prime Minister Keir Starmer. “Britain will not yield on our principles and values about the future of Greenland under threats of tariffs.”
But NATO Secretary General Mark Rutte said the main focus should be on the Russia-Ukraine War, not Greenland. 
“The risk here is that we focus, of course, on Greenland, because we have to make sure that issue gets solved in an amicable way,” he said. “But the main issue is not Greenland. Now, the main issue is Ukraine. I’m also a little bit worried that we might drop the ball focusing so much on these other issues.”
Trump said Tuesday that he had &#8220;a lot of meetings scheduled on Greenland&#8221; and that &#8220;things are going to work out pretty well.&#8221;

Trump Arrives In Switzerland, Set To Confront Global Leaders At Davos

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Two people who ran a Swiss bar that burst into flames during a New Year&#8217;s Eve party, killing 40, are under criminal investigation on suspicion of offenses including homicide by negligence, prosecutors said on Saturday.
Two days after the fire, in which 119 people suffered injuries including severe burns, officials were still trying to identify many of those killed and attention turned to how one of Switzerland&#8217;s worst tragedies could have occurred.
The bar&#8217;s two operators are suspected of offenses including homicide by negligence, causing bodily harm by negligence and arson by negligence, prosecutors in Valais, the canton that is home to the bar in the upscale ski resort of Crans-Montana, said in a statement. They did not name the pair.
&#8220;It was an enormous tragedy. We&#8217;re all so sorry that this had to happen,&#8221; Swiss Justice Minister Beat Jans told reporters, standing in front of the cordoned-off bar, Le Constellation.
He said temperatures during the blaze must have reached &#8220;500, 600 degrees (Celsius, 900-1,100 Fahrenheit)&#8221;.
Reuters was not immediately able to contact the bar&#8217;s owners for comment or reach the prosecutors to verify whether they were the people referred to.
Responding to the news of the criminal probe, residents still grieving over the sudden loss of life said it was important authorities get to the bottom of the case.
&#8220;We need a moment to reflect,&#8221; said one, Patricia Mazzoni, 55. &#8220;But afterwards, I&#8217;d like an independent investigation. An independent investigation to find out who failed here.&#8221;
Witnesses reported seeing staff at Le Constellation carrying so-called fountain candles atop bottles of champagne, and questions have also arisen about a foam material used to soundproof the ceiling of the basement where revelers danced.
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Beatrice Pilloud, chief prosecutor of Valais, said indications were that the fire started because the sparklers got too near to the ceiling.
&#8220;From there, a rapid, very rapid and widespread blaze ensued,&#8221; she said on Friday afternoon.
Investigations will look at renovations made to the bar, the fire extinguishing systems and escape routes, as well as the number of people inside when the blaze began, prosecutors said.
Police arrived quickly at the scene, according to local residents, but the fire burned victims so severely that investigators said they would need days to identify the bodies.
Illustrating the painstaking nature of that work, the Valais prosecutors&#8217; office said on Saturday that the police had identified the bodies of four Swiss victims aged between 16 and 21 &#8211; two female and two male &#8211; and returned them to their families. It did not name them.
On Friday, officials had only identified one of the dead, a teenage Italian international golfer, Emanuele Galeppini.
According to two people familiar with the investigation, some of the victims may be under 16.
Local residents said the bar was popular with young people and the Swiss government said many of the dead were likely youths. Beer and wine can be drunk from age 16 in Switzerland.
One of the bar&#8217;s two owners, Jacques Moretti, told the Tribune de Geneve newspaper that Le Constellation had been checked three times in 10 years and that everything was done according to the rules.
Stephane Ganzer, head of security in Valais, said the investigation would determine if the bar had undergone its annual building inspections, but that the town had not raised concerns or reported defects to the canton.
(Reporting by Dave Graham, Emma Farge, Tassilo Hummel and Benoit Van Overstraeten, Francois Murphy and Horaci GarciaEditing by Lisa Shumaker and Susan Fenton, Kirsten Donovan)
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Swiss Prosecutors Investigate Pair Who Ran Bar Over Deadly Blaze

Disasters

Fire

General

World

The fire that killed at least 40 people at a ski resort in Switzerland on New Year&#8217;s Eve was caused by sparklers, according to Swiss officials.
In a press conference Friday, officials said it appears as though the fire was ignited by sparklers on top of champagne bottles that were too close to the ceiling. Officials described the fire as a &#8220;flashover event,&#8221; meaning the entire room caught fire almost instantly.
At least 40 people died in the fire and 119 more are in the hospital as of Friday morning, some with serious injuries.
The blaze broke out in the early hours of Thursday morning in Valais at Le Constellation, a bar at the Swiss ski resort Crans-Montana.
Valais Attorney General Beatrice Pilloud said officials are looking into any criminal activity related to the fire. Pilloud said if criminal activity was involved, investigations will be opened for fire negligence, homicide by negligence, and injuries by negligence.
Pilloud said investigators are also looking into the building&#8217;s regulations and safety measures, as well as how many people were inside the building when the fire broke out.
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&#8220;The investigations will focus on the renovation work that had been carried out in the bar, the materials used, the licensing arrangements, the safety and security arrangements, fire extinguishers, emergency exits, and other firefighting equipment,&#8221; the attorney general added.
But the first priority is identifying the victims and bringing closure to families.
Authorities said Friday it could be days before the identities of those killed are revealed. Officials are looking into dental and DNA records because some of the bodies are unrecognizable from the burns.
Of those injured who have been formally identified, 71 are Swiss, 14 are French, 11 are Italian, and others are from Bosnia, Serbia, Portugal, and Belgium, according to officials.
A witness told the <a href="https://www.bbc.com/news/articles/clyml77ml7jo">BBC</a> he saw people burning from head to foot as he tried to help people get away from the flames.
Another witness told the BBC that she and her husband were leaving the bar when they saw people screaming and crying while being carried out on stretchers.
Outside the bar, candles and flowers covered the ground in a makeshift shrine to honor the victims.
A vigil will take place January 9 as part of a national day of mourning.

Sparklers To Blame For NYE Bar Fire That Killed Dozens In Switzerland

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Investigators on Friday set about the painful task of identifying the burned bodies of a blaze that engulfed a crowded bar and killed around 40 people at a New Year&#8217;s Eve party in the upscale Swiss ski resort of Crans-Montana.
So severe were the burns suffered by the mostly young crowd of revelers in the Le Constellation bar that Swiss officials said it could take days before they name all the victims of the fire that also injured 115, many of them seriously.
Parents of missing youths anxiously issued pleas for news of their loved ones as foreign embassies scrambled to work out if their nationals were among those caught up in one of the worst tragedies to befall modern Switzerland.
&#8220;The first objective is to assign names to all the bodies,&#8221; Crans-Montana&#8217;s mayor Nicolas Feraud told a press conference on Thursday evening. This, he said, could take days.
Mathias Reynard, head of government of the canton of Valais, said experts were using dental and DNA samples for the task.
&#8220;All this work needs to be done because the information is so terrible and sensitive that nothing can be told to the families unless we are 100 percent sure,&#8221; he said.
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What caused the blaze was unclear. Swiss authorities said it appeared to be an accident rather than an attack.
Some accounts from survivors and footage broadcast on social media suggested that the ceiling of the bar&#8217;s basement may have caught fire when sparkling candles got too close.
Residents of Crans-Montana, which has the distinction of being not only a popular draw for skiers, but also golfers, were stunned by the inferno. Many knew victims and some said they were lucky not to have been there themselves.
Hundreds of people stood in silence near the scene as they came to pay their respects to the victims on Thursday night.
&#8220;You think you&#8217;re safe here but this can happen anywhere. They were people like us,&#8221; said Piermarco Pani, an 18-year-old who, like many others in the town, knew the bar well.
Dozens of people left flowers or lit candles on a makeshift altar at the top of the road leading to the bar which police had cordoned off. Some cried, others quietly hugged one another.
Behind the cordon, the bodies of some victims still lay in the bar, police said, as they pledged to work around the clock to identify everyone who succumbed to the blaze.
Kean Sarbach, 17, said he had spoken to four people who escaped from the bar, some with burns, and that they had told him the flames had spread very quickly.
Elisa Sousa, 17, said she was meant to be there but ended up spending the evening at a family gathering instead.
&#8220;And honestly, I&#8217;ll need thank my mother a hundred times for not letting me go,&#8221; she said at the vigil for the victims. &#8220;Because God knows where I&#8217;d be now.&#8221;
(Reporting by Dave Graham and Emma Farge; Editing by Alistair Bell)
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Fire In Bar At Swiss Ski Resort

Swiss Face Arduous Task Of Identifying Victims Of Deadly Bar Fire

New Year's

What was intended to be a night of celebration turned into a scene of unimaginable horror early Thursday morning, as a <a href="https://www.cnn.com/world/live-news/switzerland-ski-resort-fire-live-intl-hnk">massive fire</a> tore through a crowded nightclub in the elite Swiss ski resort of Crans-Montana. Authorities say dozens of people are presumed dead, and approximately 100 others have been injured, many of them critically, after a blaze <a href="https://www.nytimes.com/live/2026/01/01/world/switzerland-ski-resort-fire">gutted</a> the popular venue &#8220;Le Constellation&#8221; during a New Year’s Eve party.
The fire broke out around 1:30 a.m. local time in the heart of the exclusive Alpine haven, known for its panoramic views of the Matterhorn and Mont Blanc. Witnesses described a chaotic and terrifying scene that unfolded in mere seconds. According to accounts provided to CNN affiliate BFMTV, the tragedy may have been sparked by pyrotechnics. Witnesses reported seeing waitresses carrying champagne bottles topped with lit sparklers; in one instance, a server was reportedly standing on another’s shoulders to reach the crowd. The flames reportedly licked the ceiling, igniting the interior almost instantly.
&#8220;Within about ten seconds, the entire nightclub was on fire,&#8221; one survivor recalled. &#8220;We all ran out screaming.&#8221;
The Swiss government launched a massive emergency operation, mobilizing 150 medical personnel, 40 ambulances, and 10 helicopters. The influx of casualties was so great that local operating theaters reached capacity, necessitating the use of three specialized jets to airlift severe burn victims to Zurich.
Swiss President Guy Parmelin, who began his term on Thursday, postponed his scheduled New Year’s address to the nation. &#8220;What should have been a moment of joy turned into a night of mourning,&#8221; he stated, acknowledging the international impact of the disaster given the resort&#8217;s status as a global tourist destination.
Prosecutor General Beatrice Pilloud confirmed that while the cause is under investigation, officials have ruled out terrorism. A no-fly zone has been established over the area to facilitate recovery efforts and forensic identification.
As the sun rose over the Valais Alps, images from the scene revealed the grim aftermath: a charred building skeleton, its furniture and debris destroyed. For now, the glamorous streets of Crans-Montana remain cordoned off as investigators begin the grim task of identifying the victims and returning them to their families.

Fire In Bar At Swiss Ski Resort Of Crans-Montana Kills Dozens

Tragedy In The Alps: Dozens Presumed Dead In Swiss Ski Resort Fire At New Year’s Party

Ski Resort

The United States and Switzerland announced a framework trade agreement on Friday that includes Washington slashing its tariffs on imported Swiss products to 15% from 39% and a pledge by Swiss companies to invest $200 billion in the U.S. by the end of 2028.
The United States and Switzerland, joined by Liechtenstein, aim to conclude negotiations to finalize their trade deal by the first quarter of 2026, the White House said in a statement.
U.S. Trade Representative Jamieson Greer said the agreement tears down longstanding trade barriers and opens new markets for American goods. He welcomed &#8220;massive Swiss investment to help reduce our deficit in pharmaceuticals and other key sectors&#8221; that will generate thousands of jobs across the U.S.
At least $67 billion of the $200 billion in pledged Swiss investments in the United States will come in 2026, the White House said in a statement.
The total includes prior U.S. investment commitments including $50 billion from drugmaker Roche and $23 billion from Novartis along with pledges from engineering group ABB railway equipment maker Stadler.
In addition to pharmaceuticals &#8211; Switzerland&#8217;s largest export to the U.S. &#8211; the investments in U.S. production will target medical devices, aerospace and gold manufacturing, the White House said.
&#8220;This agreement puts Switzerland on an equal footing with the European Union and brings the tariff level down from 39% to 15%,&#8221; Swiss Economy Minister Guy Parmelin said in announcing the deal, which affects about 40% of Switzerland&#8217;s exports.
&#8220;Of course, we would prefer (the $200 billion) to be invested in Switzerland,&#8221; Parmelin added. &#8220;And that’s why the Federal Council in parallel is doing everything to see how we can reduce costs for our businesses.&#8221;
The lower tariff rate is likely to be activated within &#8220;days, weeks,&#8221; as soon as the U.S. customs processing systems can be adjusted, said Helene Budliger Artieda, director of Switzerland&#8217;s  State Secretariat for Economic Affairs.
The deal guarantees a 15% tariff ceiling for Swiss pharmaceutical producers, limiting the impact of U.S. President Donald Trump&#8217;s forthcoming Section 232 national security duties for the sector, which could reach 100% on certain patented drugs.
Parmelin said the 15% cap would also apply to other future Section 232 duties, including semiconductors, putting key sectors on the same footing as the EU.
&#8220;The risk of much higher sector-specific tariffs is therefore ruled out,&#8221; Parmelin added.
A Swiss government statement said the tariff agreement will reduce Swiss import duties on U.S. industrial products, fish and seafood and agricultural products &#8220;that Switzerland considers non-sensitive.&#8221;
Switzerland will grant the U.S. duty-free bilateral tariff quotas on 500 tons of beef, 1,000 tons of bison meat and 1,500 tons of poultry meat, the government said.
The White House statement said Switzerland agreed to remove a range of tariffs across agricultural and industrial  sectors including certain fresh and dried nuts, fruits, seafood and chemicals.
The White House also said Switzerland will recognize U.S. motor vehicle safety standards, a step toward addressing Trump&#8217;s frequent complaint that European countries do not buy American-made cars and trucks.
Swiss industrial groups welcomed the deal, saying it would put them on a level playing field with competitors from the European Union, which agreed to a 15% tariff on EU exports to the U.S.
&#8220;For the industrial sector, which was subject to a 39% tariff since August 1, this is good news. For the first time, we have the same conditions in the U.S. market as our European competitors,&#8221; said Nicola Tettamanti, president of Swissmechanic, which represents small and medium-sized manufacturers.
Switzerland&#8217;s machinery, precision instruments, watchmaking, and food sectors, which export to the U.S., would see the most relief, said Hans Gersbach, a director of the KOF Swiss Economic Institute at ETH Zurich.
KOF forecasts Swiss economic growth of 0.9% in 2026, but this would exceed 1% with the lower tariff rate, he added.
Switzerland had a $38.3 billion goods trade surplus with the U.S. in 2024, according to U.S. Census Bureau data. This rose to $55.7 billion in 2025 through July, reflecting primarily the front-loading of U.S. imports from Switzerland during the first quarter, before Trump imposed his &#8220;reciprocal&#8221; tariffs in early April.
Nadia Gharbi, an economist at Swiss bank Pictet, said the tariff reduction removed the main downside risks for the country&#8217;s economy and represents a clearly positive development for Swiss industries and for the overall growth outlook.
&#8220;Under the previous tariff regime, Switzerland suffered a significant loss of competitiveness — not only because of the strength of the Swiss franc, but also because neighboring European economies were subject to tariffs of only around 15%,&#8221; she said.
Swiss industry on Friday reported a 14% fall in exports to the U.S. during the three months through September, technology industry association Swissmem said, while machine tool makers saw shipments slump 43%.
(Reporting by John Revill in Zurich; Additional reporting by Dave Graham in Zurich, Emma Farge and Olivia Le Poidevin in Geneva, Miranda Murray in Berlin, and Doina Chiacu, Susan Heavey and Andrea Shalal in Washington; Writing by David Lawder and John Revill, Editing by Rod Nickel and Matthew Lewis)

Switzerland Wins Tariff Rate Cut To 15%, Pledges $200 Billion In U.S. Investments

Global Politics

Politics

Tariffs

After two days of talks in Switzerland, President Donald Trump&#8217;s envoys touted what they said was significant movement toward reaching a trade deal with China.
Treasury Secretary Scott Bessent told reporters on Sunday that there was <a href="https://x.com/business/status/1921615311838577125" target="_blank" rel="noopener">&#8220;substantial progress&#8221;</a> and a &#8220;great deal of productivity&#8221; in the discussions with Chinese officials.
&#8220;We will be giving details tomorrow, but I can tell you that the talks were productive,&#8221; Bessent added.
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> says there has been a &#8220;great deal of productivity&#8221; in trade talks with China: &#8220;We will be giving details tomorrow, but I can tell you that the talks were productive.&#8221; <a href="https://t.co/v85uugnMnV">pic.twitter.com/v85uugnMnV</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1921597140784013614?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The delegation from China also indicated the negotiations went well.
Chinese Vice Premier He Lifeng said the talks marked &#8220;an important first step&#8221; and promised a joint statement, according to <a href="https://www.bloomberg.com/news/articles/2025-05-11/us-china-made-substantial-progress-in-trade-talks-bessent-says" target="_blank" rel="noopener">Bloomberg</a>.
As it stands, the United States imposed an overall tariff rate on Chinese goods at 145%. Beijing responded by <a href="https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html" target="_blank" rel="noopener">raising</a> tariffs on U.S. goods to 125%.
China&#8217;s delegation <a href="https://www.dailywire.com/news/china-dispatches-top-security-chief-to-face-trump-team-over-fentanyl-crisis-tariffs" target="_blank" rel="noopener">reportedly</a> included President Xi Jinping&#8217;s top security official, a sign the discussions broached the fentanyl crisis in addition to trade.
The world&#8217;s two largest economies have been roiled as a result of the trade war, which escalated with Trump&#8217;s &#8220;Liberation Day&#8221; tariffs last month.
Bessent noted that he and U.S. Trade Representative Jamieson Greer spoke to Trump the night before.
&#8220;He is fully informed of what is going on,&#8221; Bessent said of the president.
Trump himself posted about the talks on Truth Social in the evening on Saturday.
&#8220;A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114486066663976973" target="_blank" rel="noopener">said</a>.
&#8220;We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!&#8221; the president added.
Greer, who was standing beside Bessent, said China&#8217;s officials &#8220;worked very diligently&#8221; and were &#8220;very tough negotiators.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/USTradeRep?ref_src=twsrc%5Etfw">@USTradeRep</a> in Geneva: &#8220;The U.S. has a massive $1.2 trillion trade deficit, so the President declared a national emergency &#8230; We&#8217;re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency.&#8221; <a href="https://t.co/1kuPhzzGLp">pic.twitter.com/1kuPhzzGLp</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1921597758911267219?ref_src=twsrc%5Etfw">May 11, 2025</a></blockquote>
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He echoed what Bessent said, declaring how the past two days were &#8220;very constructive,&#8221; and then made a stark observation about the timeframe.
&#8220;It&#8217;s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought,&#8221; Greer said.
&#8220;That being said, there was a lot of groundwork that went into these two days,&#8221; he continued.
Greer also emphasized that it was &#8220;important&#8221; to remember why they were there in the first place.
&#8220;The United States has a massive $1.2 trillion trade deficit, so the president declared a national emergency and imposed tariffs,&#8221; Greer said.
&#8220;We&#8217;re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,&#8221; he added.
Heading into the high-stakes talks, Trump suggested that Bessent had room to offer a lower rate.
“80% Tariff on China seems right! Up to Scott B,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114477628854583525" target="_blank" rel="noopener">said</a> in a Truth Social post on Friday.
Trump officials have been <a href="https://www.dailywire.com/news/sorry-china-bessent-says-deal-with-massive-trade-partner-very-close" target="_blank" rel="noopener">negotiating</a> on trade with a host of nations impacted by the president&#8217;s &#8220;Liberation Day&#8221; tariffs, which hinge on a national emergency declaration.
Last week, the White House unveiled a trade deal <a href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-u-s-uk-reach-historic-trade-deal/" target="_blank" rel="noopener">framework</a> with the United Kingdom.

US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer

Trump’s Envoys Tease China Trade Breakthrough, Stress How ‘Quickly’ It Came Together

Communist China

Economy

Free Trade

Scott Bessent

Trade War

U.S.

China’s President Xi Jinping sent his top security official to Switzerland on Friday for critical trade talks with the U.S., underscoring Beijing&#8217;s recognition of the fentanyl crisis as a key issue amid ongoing tariff tensions with the Trump administration.
The Chinese delegation, led by Vice Premier He Lifeng, includes Minister of Public Security Wang Xiaohong, who is considered &#8220;the point person in Beijing’s recent discussions with Washington over how to address President Trump’s concerns about China’s role in the fentanyl trade,&#8221; <a href="https://www.wsj.com/world/china/china-sends-xis-security-czar-to-trade-talks-with-u-s-a763826d?mod=hp_lead_pos1">according</a> to The Wall Street Journal. They will meet with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Switzerland on Saturday and Sunday.
The meeting will be aimed at addressing China&#8217;s role in the U.S. fentanyl crisis and tariff policies, people familiar with the matter told The Wall Street Journal.
Previously, Chinese officials had accused the U.S. of using the fentanyl problem as a pretext to escalate tariffs.
Now, the Chinese government appears to recognize that it must present cooperative gestures in response to significant American concerns about the fentanyl crisis, as shown by Wang Xiaohong&#8217;s anticipated presence.
“Wang’s presence means one thing: Fentanyl is not only on the table, but also a key piece in the U.S.-China trade talks at this stage,” said Yun Sun, China program director at the D.C. Stimson Center, per the WSJ. “How willing China is to cooperate will illustrate how eager they are to make the trade deal.”
Sources close to the discussions told the Wall Street Journal that the Chinese delegation has been given a clear list outlining steps the Trump administration expects Beijing to take on fentanyl.
These recommendations reportedly include stricter law enforcement measures targeting domestic suppliers of fentanyl precursor chemicals and harsher penalties for criminal organizations involved in narcotics trafficking.
President Donald Trump, who imposed 145% tariffs on Chinese goods in part due to China&#8217;s connection with the fentanyl crisis — which claims tens of thousands of American lives each year — posted Friday on Truth Social that he is open to lowering tariffs to 80%, placing the decision in the hands of Treasury Secretary Bessent.
“CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114477610338144415">posted</a> on Truth Social Friday morning.
READ MORE: <a href="https://www.dailywire.com/news/trump-calls-for-china-to-open-its-markets-floats-major-tariff-reduction">Trump Calls For China To Open Its Markets, Floats Major Tariff Reduction</a>

CHINA-US-DIPLOMACY

China Dispatches Top Security Chief To Face Trump Team Over Fentanyl Crisis, Tariffs

China

Fentanyl

Trump Administration

Xi Jinping

A breakthrough in the tariff standoff between the United States and China emerged on Tuesday evening.
Treasury Secretary <a href="https://home.treasury.gov/news/press-releases/sb0132" target="_blank" rel="noopener">Scott Bessent</a> and U.S. Trade Representative <a href="https://ustr.gov/about/policy-offices/press-office/press-releases/2025/may/ambassador-jamieson-greer-travel-switzerland" target="_blank" rel="noopener">Jamieson Greer</a> are poised to meet with Chinese officials in Switzerland over the weekend to discuss trade and economic matters, according to their respective agencies. China reportedly <a href="https://www.nytimes.com/2025/05/06/business/economy/us-china-trade-talks.html" target="_blank" rel="noopener">confirmed</a> there will be talks.
&#8220;I was going to be in Switzerland to negotiate with the Swiss. Turns out, the Chinese team is traveling through Europe and they will be in Switzerland also. So, we will meet on Saturday and Sunday,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/1919893288275808625" target="_blank" rel="noopener">said</a> during an interview on Fox News Channel&#8217;s &#8220;The Ingraham Angle.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;The world has been coming to the U.S. and China has been the missing piece. I was going to be in Switzerland to negotiate with the Swiss. Turns out, the Chinese team is traveling through Europe and they will be in Switzerland also. So, we will meet on Saturday… <a href="https://t.co/QJZHl98bOx">pic.twitter.com/QJZHl98bOx</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1919893288275808625?ref_src=twsrc%5Etfw">May 6, 2025</a></blockquote>
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While many countries received a 90-day reprieve for &#8220;Liberation Day&#8221; tariffs above the baseline rate of 10% last month, the United States <a href="https://www.dailywire.com/news/trump-issues-90-day-pause-on-most-tariffs-raises-chinas-to-125" target="_blank" rel="noopener">increased</a> the overall penalty on Chinese goods to 145%. Beijing responded by <a href="https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html" target="_blank" rel="noopener">raising</a> tariffs on U.S. goods to 125%.
&#8220;The world has been coming to the U.S. and China has been the missing piece,&#8221; Bessent said. He added later that the United States and China have &#8220;shared interests&#8221; and stressed that the current situation &#8220;isn&#8217;t sustainable, as I&#8217;ve said before, especially on the Chinese side.&#8221;
Protests <a href="https://www.dailywire.com/news/trumps-tariff-sparks-protests-in-china-as-factories-shutter-amid-trade-war" target="_blank" rel="noopener">erupted</a> in China last month as factory workers in Suining, Hunan, and Inner Mongolia demanded unpaid wages and benefits after factory closures triggered by Trump&#8217;s steep tariffs. The economy in the United States has also been impacted, with shipments from China <a href="https://www.pbs.org/newshour/nation/shipments-from-china-fall-as-trumps-tariffs-loom-over-economy" target="_blank" rel="noopener">falling</a> and growing concerns about price increases.
&#8220;We don&#8217;t want to decouple; what we want is fair trade,&#8221; Bessent said.
Bessent and Greer, who are traveling to Switzerland later this week, are also expected to meet with the country&#8217;s president, Karin Keller-Sutter, to discuss trade.
&#8220;At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security,&#8221; Greer <a href="https://ustr.gov/about/policy-offices/press-office/press-releases/2025/may/ambassador-jamieson-greer-travel-switzerland">said</a>. “I look forward to having productive meetings with some of my counterparts as well as visiting with my team in Geneva who all work diligently to advance U.S. interests on a range of multilateral issues.&#8221;
Trump administration officials have been negotiating on trade with a host of nations over the past several weeks and have <a href="https://www.dailywire.com/news/sorry-china-bessent-says-deal-with-massive-trade-partner-very-close" target="_blank" rel="noopener">signaled</a> progress in talks with the likes of India, South Korea, and Japan.

Treasury Secretary Scott Bessent

BREAKTHROUGH: Trump Officials Set Date For Direct Trade Talks With China

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