Switzerland's UBS asked for support on US tariffs by the Swiss economy ministry.

The Swiss economy ministry has reached out to UBS Group AG for support in resolving the US trade tariff dispute, potentially improving ties between the bank and the government. As Switzerland's largest lender, UBS has a strong presence in the US and could help facilitate better relations. The request comes amid a tense debate over new bank rules that could impose $26 billion in fresh capital requirements on UBS.

The Swiss economy ministry has reached out to UBS Group AG for assistance in resolving the ongoing US trade tariff dispute. This move comes as Switzerland seeks to improve its trade terms with the Trump administration, which has imposed the highest tariffs in the developed world on Swiss goods. The Swiss government has been actively working to mitigate the impact of these tariffs on the country's export-dependent economy.

UBS, Switzerland's largest lender, has been approached due to its significant presence in the US. The bank's strong foothold in the country could provide valuable insights and support in negotiating better trade terms. UBS has been vocal about the potential economic damage caused by the tariffs, which have led Swiss businesses to consider job cuts and relocations.

The request from the Swiss economy ministry (SECO) to UBS comes at a time when the bank is embroiled in a tense debate over new bank rules. These rules could impose up to $26 billion in fresh capital requirements on UBS, a move the bank strongly opposes. The potential role in helping the Swiss government navigate the US tariffs situation could enhance UBS's standing with the government.

Pharmaceutical giants Roche Holding AG and Novartis AG have already engaged in discussions with the government over the US trade talks. Both companies have highlighted their planned investments in the US, underscoring the importance of the pharmaceutical sector to Switzerland's trade surplus.

Relations between UBS and the Swiss government have been strained in recent months due to the bank capital debate. However, the potential collaboration on the tariff issue could provide an opportunity for UBS to strengthen its ties with the government.

The Swiss finance ministry, which leads the debate on new bank rules, has stated that it has not been in touch with UBS regarding the tariffs situation. The finance minister, Karin Keller-Sutter, who is also the head of the Swiss government, operates under a rotating system.

The Swiss economy ministry's request to UBS highlights the country's strategic need to resolve the trade tariff dispute. UBS's involvement could be instrumental in achieving a more favorable outcome, potentially benefiting both the bank and the Swiss economy.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-26/ubs-asked-by-swiss-economy-ministry-for-support-on-us-tariffs
[2] https://www.marketbeat.com/instant-alerts/ssc-technologies-nasdaqssnc-given-new-11000-price-target-at-ubs-group-2025-08-22/
[3] https://news.futunn.com/en/post/60987571/ubs-group-slightly-lowers-the-target-price-for-sinopec-00386