How to lobby Trump with Swiss precision: gifts, gold and gab
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President Trump, shown here with NATO Secretary General Mark Rutte in the Oval Office, has a taste for gold. Photo: Jim Watson/AFP via Getty Images
Forget retaliation: To cut tariffs President Trump imposed on their country, the Swiss sent a delegation of industry tycoons bearing gifts — a special Rolex desktop clock, a 1-kilogram personalized gold bar, and loads of flattery.
Why it matters: Trump loves such pampering, and the word's out among nations and companies seeking his favor. Tributes fit for a king — especially gold — catch his eyes and his heart.
- The Swiss bar, given to Trump during the delegation's visit on Nov. 4, was stamped with 45 and 47 in homage to his presidential terms. It's worth a little more than $130,000.
- Trump accepted the gifts on behalf of his presidential library, making them legal, White House officials say.
Zoom in: Apple set the tone for such gestures — and raised the bar for them — in August, when CEO Tim Cook gave Trump an engraved glass disc with a 24-karat gold base to commemorate the company's new $100 billion investment in the U.S. to avoid tariffs.
- In a separate White House meeting, the LA Olympics committee gave Trump a set of commemorative 1984 Olympic medals, a nod to the Summer Games he'll preside over in Los Angeles in 2028.
- Months before, the government of Qatar gifted a $400 million 747 jet to Trump's library.
- And a bevy of corporations and supplicants have donated about $300 million to help the president build a giant ballroom connected to the White House, which he plans to gild like Midas.
But the Apple gift was a favorite for Trump in the Oval Office — until the Swiss came to town.
- "It was tough to beat Apple, but the Swiss did it," one administration official told Axios.
Driving the news: The Swiss charm offensive worked. On Friday, the U.S. government announced it was cutting its tariff rate on Swiss goods from 39% to 15%.
- In return, the Swiss agreed to reduce trade barriers Trump had bristled at, and Swiss companies agreed to invest more in the U.S.
Trump's tariffs had caused major damage to the Swiss economy since he imposed them in August, and Switzerland's prime minister, Karin Keller-Sutter had been unable to talk Trump out of them.
- "The woman was nice, but she didn't want to listen," Trump told CNBC about his conversation with her.
Inside the Oval Office: With leader-to-leader talks stalled, the Swiss changed gears and sent a delegation of national business leaders to the White House, knowing that Trump loved captains of industry.
- "Trump is a businessman and likes to talk business with businessmen," the administration official said.
The attendees included:
- Marwan Shakarchi, head of precious-metals and financial group MKS SA, presented Trump with the gold bar.
- Jean-Frédéric Dufour, the head of Rolex, who gifted the desk watch. Rolex had discussed gifting a rare titanium watch but decided the gold clock was more to Trump's liking, according to a person briefed about the meeting.
- Johann Rupert, chair of the luxury goods firm Richemont
- Daniel Jaeggi, co-founder of energy and commodities and trader Mercuria
- Alfred Gantner, co-founder of the mammoth private-equity firm Partners Group
- Diego Aponte, president of MSC Mediterranean Shipping Company, helped arrange the meeting but was unable to attend.
The gifts and the gab pleased Trump, who posted shortly afterward on Truth Social: "I'd like to commend all of the people present on a job well done."
- On Friday, U.S. Trade Representative Jamieson Greer announced the deal to cut the tariffs in a statement laden with praise for the president.
- "President Trump's unmatched dealmaking continues to deliver for the American people," he said.
