Fairness, Not Force

Dear President Trump,

I am an American Swiss citizen who grew up near Cape Canaveral among the sons and daughters of those who worked on the Apollo Project. Every few months we sat on the warm hoods of our parents‘ cars, watching rockets rise above the tree line, hoping they would pierce the atmosphere without exploding.

Sometimes they didn’t. In our daily lessons we learned and observed firsthand values fundamental to what made America great: innovation, hard work, meritocracy, and fairness.

On April 2, 2025, you declared „Liberation Day“ for America, unveiling sweeping new trade tariffs with a bold vision: to restore American economic sovereignty by correcting „unfair trade practices“ and ending what you described as „decades of foreign nations ripping off Americans.“

Your goals seemed laudable: transforming the United States into a manufacturing powerhouse, reducing trade deficits, and raising revenue to address our national debt. They appealed to the American in me.

I understood your frustration. The trade imbalances are stark and undeniable. How could India charge up to 150% tariffs on American products while we charged them none, all while granting them over 70% of precious H-1B visas—the lifeline of any immigrant seeking opportunity in America?

Who wouldn’t support measures to prevent China from dumping excess steel production or monopolizing rare earth minerals critical to our national security?

The pandemic revealed our dangerous vulnerabilities when Chinese dominance in supply chains hindered production of everything from can openers to life-saving respiratory machines. Many of us felt anxious and exposed.

Tariffs – like all taxes – are constitutionally the responsibility of Congress, reflecting our founding principle that there should be „no taxation without representation.“

I recognized that building consensus among 535 legislators is unwieldy, and when you stated that „fairness“ was your primary motivation, I was prepared, like many Americans, to overlook this constitutional exception.

That goodwill dissipated when I learned of your unilateral imposition of a 39% tariff on Switzerland—almost quadruple the baseline 10% rate and among the highest imposed worldwide.

Switzerland represents everything America should celebrate in a trading partner. The country maintains a balanced trade relationship when both goods and services are considered – and services should count, given they constitute 70% of our economy.

As one of the world’s most open economies, Switzerland imposes virtually no tariffs on U.S. exports, offering the most generous form of reciprocity possible.

Despite its modest population of 8.7 million – smaller than New York City – Switzerland consistently ranks among the top ten investors in America. Swiss companies directly employ over 450’000 Americans across all 50 states, from advanced manufacturing to life-saving pharmaceuticals.

Over the past decade alone, Swiss firms have invested more than $280 billion in American operations, research facilities, and manufacturing plants. Glassdoor consistently ranks Swiss companies among the best employers to work for in America.

These aren’t fair-weather investments – these companies have been building America for over a century, with Nestlé even moving its headquarters here during World War II to escape potential Nazi nationalization.

Roche’s Nutley, New Jersey facility served as a refuge for Jewish scientists fleeing the Holocaust.

Most tellingly, in just the past few months since your inauguration, all three companies have announced massive new American investments despite the tariff threats:

Novartis announced a planned $23 billion investment, followed by Roche’s commitment to invest $50 billion in the U.S. over the next five years, creating more than 12,000 jobs, and ABB’s announcement of a $120 million investment to expand production of its low-voltage electrification products in Tennessee and Mississippi.

That’s over $73 billion in new commitments from Switzerland in your first 100 days alone – compelling actions of a nation striving to contribute to America’s prosperity, not „rip it off“.

The benefits flow both ways. Swiss consumers enthusiastically purchase Netflix subscriptions and iPhones while Americans benefit from ABB’s cutting-edge technology upgrading our electric grid and Roche’s breakthrough therapies keeping cancer patients in remission.

History teaches that when rules are imposed by force rather than fairness, resistance and instability follow. The Boston Tea Party that ignited our Revolution occurred precisely because colonists felt England’s tariffs were arbitrary and unfair – a lesson all American children learn in school.

Your approach, as it stands, threatens the very manufacturing revival you champion. When nations feel they are punished for good deeds, or perceive policies as capricious, they tend to withhold investment or redirect capital elsewhere, undermining American competitiveness and global growth.

Economic growth, like trust, cannot flourish amid uncertainty and arbitrary rulemaking.

Mr. President, few leaders possess your bold vision and ability to reshape global trade to benefit America. Imagine harnessing that strength not through fear, but through clear examples that reward fairness and partnership.

By creating a ‚Most Favored Trading Partner‘ status for nations like Switzerland – who balance trade, keep markets open to American goods, and invest significantly in U.S. jobs – you would set a new standard that others aspire to meet.

This approach would showcase your unmatched leadership in turning competition into a tool for America’s lasting prosperity, inspiring the world to seek your favor rather than avoid your displeasure.

Progress has forever been about finding something that works and encouraging others to emulate.

Respectfully,
An American who still believes fairness made America great.

Dieser offene Brief erschien zuerst in den Tamedia-Medien, siehe Tages-Anzeiger. Der Brief erfolgte nach einem Interview des Tages-Anzeigers mit dem Autor.

Der Schweiz-Amerikaner ist Autor und Gründer der in Zürich beheimateten Investmentfirma Naissance Capital. Im Frühling 2008 wies er zusammen mit Co-Autoren der ETH Zürich in einer Publikation warnend auf die Gefahr eines Kollapses des globalen Finanzsystems hin.

Im Herbst desselben Jahres ging die US-Bank Lehman Brothers in Konkurs, und die UBS musste mit Staatsmilliarden gerettet werden. 2014 warnte er in einer Analyse vor dem Untergang der Credit Suisse.

Breiding wuchs im US-Bundesstaat Florida auf und lebt in Zürich. Er schrieb mehrere Bücher über die Stärke der Schweizer Wirtschaft und ist Gründer der Non-Profit-Organisation S8nations.