US EditionTrump tariffs give watch sellers a hard time in Swiss hub
SWITZERLAND, JUL 8 – Tariffs introduced under Donald Trump's administration have increased costs for Swiss watch sellers, affecting their competitiveness in the US market this year.
- On Wednesday, Lucerne watch retailers report three tough months after Trump threatened tariffs, dampening tourist interest.
- In April, Trump announced a 31% tariff, alarming Switzerland, which relies heavily on trade, but suspended rates at 10% for 90 days until August 1.
- Reuters reported that Swiss watch exports totaled 26 billion CHF in 2024, with unit exports down nearly 5% in Jan-May, reflecting tariff uncertainty's impact.
- Swiss watch retailers report months of slowdown as Trump’s tariffs cause sector uncertainty and prompt efforts to diversify markets.
- The Federation warns that exports may hit their lowest since 2020, with erratic patterns driven by pre-tariff shipping rushes, reflecting ongoing trade uncertainties.
12 Articles
12 Articles
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Swiss Watch Market Troubles: Trump's Looming Tariffs
Swiss watch sellers face challenges due to U.S. tariff threats by President Trump, with tariffs disrupting exports and reducing tourist interest. The industry shows decreased exports, and the overpriced Swiss franc deters buyers. Efforts to seek new markets are underway as fewer tourists visit Lucerne.
Trump tariffs give watch sellers a hard time in Swiss hub
Swiss watch sellers in Lucerne have endured a tough three months since U.S. President Donald Trump piled pressure on the luxury business with the threat of hefty tariffs, reducing interest from tourists who flock to the city in part to shop for watches.
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