Overview

• The U.S. tariffs, effective April 3, 2025, impose a 31% duty on Swiss goods, severely impacting Switzerland's top export market for watches.
• Swiss watchmakers, already struggling with declining sales in China, now face rising costs, canceled deals, and fears of a market freeze in the U.S.
• Industry leaders like Richemont and Swatch Group are expected to face significant pressure, but neither company has commented on the tariffs.
• At the Watches and Wonders conference in Geneva, concerns mounted as meetings with American clients were canceled and uncertainty loomed over future projects.
• Global markets remain volatile, with analysts warning of broader economic risks, including inflation, supply chain disruptions, and potential recession.