Swiss watch industry sees tough times ahead over Trump tariffs

Buying a Rolex is about to get more expensive

Rolex prices are at risk of going up again.Jordan Hart/BISwiss watches may increase prices due to a new 31% tariff by the US, analysts say.Rolex, a leading Swiss brand, faces challenges in offsetting these increased costs.The tariffs, imposed by Donald Trump, affect Swiss and European Union watch imports.If you're thinking of buying a Rolex watch, you might want to act now to avoid potential price increases.The biggest names in luxury watches mo…

Swiss watch industry sees tough times ahead over Trump tariffs

By Olivia Le Poidevin and Cecile Mantovani

Switzerland could have hoped to get out of Donald Trump's tariff barrage, given its more lax regulatory policy and scepticism towards the European Union. However, it has been imposed one of the continent's highest taxes, which raises concerns in key industries. Exports to the US will have a 32 percent tariff, well over 20 percent of the neighboring EU. In addition, it is more than three times the 10 percent of the UK, which, like Switzerland, is…

Swiss Hit Harder Than EU as Rolex, Swatch Face Outsize Tariffs

Switzerland may have expected to get off lightly from Donald Trump’s tariff salvo given its lighter touch approach to regulation and skepticism toward the European Union. Instead, it’s been slapped with one of highest levies on the continent, raising concern for key industries.

Friend or enemy, that makes no difference for Donald Trump in the customs rush. 31 percent he is buzzing Switzerland – significantly more than the EU. An eclectic statement for the small, American-friendly country.

The Swiss neighbour has been taxed more than his European neighbours, but the leaders are glad that pharmaceutical products, which are important for export, are free.