Overview
- Federation figures show September shipments to the U.S. fell 55.6% to 157.7 million Swiss francs, dropping the market behind the U.K. and Japan.
- Total Swiss watch exports declined 3.1% by value and 7.6% by volume in September, and the industry body said growth would have been 7.8% without the U.S. collapse.
- Watchmakers and importers front‑loaded deliveries ahead of tariff deadlines in April and July, followed by consecutive drops in August and September once the levies took effect.
- Swiss federal customs reported overall exports down 3.9% in the third quarter and U.S.-bound exports down 8.2%, with the 39% levy far above the 15% rate applied to EU goods.
- The Swiss government is seeking a lower U.S. tariff in ongoing talks, including a proposal to invest in American gold‑refining, but no reduction has been secured.