What did Roche's chairman Severin Schwan specifically compare U.S. tariff threats to, and in what context did he make that statement?

Roche chairman Severin Schwan likened U.S. tariff threats to 'blackmail', stating: '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... So in a legal sense that's perhaps an agreement, but it's basically cold-blooded blackmail.' He made this remark during an interview at an event in Interlaken, Switzerland, referring to the agreement Roche struck with the Trump administration late last year to slash medicine prices in the U.S. after U.S. officials threatened steep tariffs on drugmakers.

According to Severin Schwan, what is Roche's biggest geopolitical concern, and which two countries did he explicitly name?

According to Severin Schwan, Roche's biggest geopolitical concern is protectionism, and he explicitly named 'the United States and China' as the two countries whose protectionist policies pose that primary risk.

Roche chairman likens US tariff policy to 'blackmail'

Jun 4, 2026

Roche Chairman Severin Schwan criticized U.S. tariff policies on drugmakers as "blackmail" following an agreement to slash medicine prices under threat of steep tariffs. He identified U.S. and Chinese protectionism as the company's primary geopolitical concern.

reuters

2026-06-04

Roche chairman likens US tariff policy to 'blackmail'

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Roche chairman likens US tariff policy to 'blackmail'

FAQ