Seco chief economist against state rescue of steelworks
Published: Sunday, Apr 7th 2024, 15:01
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The Federal Council will soon decide on the implementation of parliamentary initiatives calling for state support for the ailing steelworks in Gerlafingen SO. The federal government's chief economist, Seco deputy director Eric Scheidegger, has reservations.
Such an industrial policy is "unfair, it distorts competition and it is expensive", said Scheidegger in an interview with the SonntagsZeitung. Switzerland has done well with a policy that focuses on maintaining good economic conditions. "We don't want to support certain companies or sectors, but rather create good conditions for everyone."
If Donald Trump becomes president and makes good on his threat to impose import tariffs of 10 percent on all goods, Switzerland should not respond with punitive tariffs. "Unilateral countermeasures against Trump's tariffs would not make sense," says Scheidegger.
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