Richemont’s Rupert ‘Confident’ of Swiss-US Tariff Resolution (2)

Richemont Chairman Johann Rupert told shareholders he expects Switzerland will be able to resolve its trade dispute with the US, which he described as a misunderstanding between governments.

“It is silly that there should be a squabble between Switzerland and US,” Rupert said Wednesday at the Swiss luxury giant’s annual general meeting in Geneva, adding that he is in touch with negotiators on both sides and is “privately confident” they will come to an agreement.

President Donald Trump’s administration imposed an import tariff of 39% on Switzerland’s goods last month, a shock after the Swiss government expected a 15% ...