The head of Swiss pharmaceutical company Roche delivered sharp criticism of American tariff strategies during a television interview Thursday, describing the approach as ‘blackmail’ and highlighting growing tensions between major economies.
During questioning about a pricing agreement his company reached with the Trump administration last year, Severin Schwan expressed frustration with the negotiation tactics used by U.S. officials. The deal required the pharmaceutical giant to reduce medication costs in America after officials warned of potential steep tariffs on drug manufacturers.
‘If someone points a gun at you and says if you don’t sign, there’ll be 200% tariffs tomorrow, I wouldn’t necessarily describe that as a deal,’ Schwan stated during the interview from an event in the Swiss city of Interlaken, which aired on Swiss television.
‘So in a legal sense that’s perhaps an agreement, but it’s basically cold-blooded blackmail,’ he continued.
The Trump administration has maintained that international companies have exploited the United States by charging American consumers excessive prices for medications, and has worked to promote increased domestic production.
In additional comments, Schwan pointed to protectionist policies from both the United States and China as representing his company’s primary geopolitical challenge moving forward.
