Swiss watches will face some of the highest U.S. tariffs at 31%—and its ripple effects will change the industry's dynamic [Yahoo! Finance]
SWATCH GROUP AG UNSP/ADR (SWGAY)
NASDAQ:AMEX Investor Relations:
swatchgroup.com/investor_relations/financial_announcements/latest_financial_announcements
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Source: Yahoo! Finance
Switzerland, which has famously stayed neutral on most matters, including European integration, faces one of the highest levies on the continent. Its top business lobby has described the levies as “harmful and unjustified.” From cheese to chocolate and medicines, all of Switzerland's biggest exports faced shockwaves following President Donald Trump's announcement last week. The U.S. is Switzerland's largest export market for watches, making their trade relationship crucial to the country. In 2024, the value of Swiss watch exports to the States rose 5% to CHF 4.3 billion ($5.2 billion). Demand from the Chinese market has also gradually declined since the COVID-19 pandemic, so watch companies have turned to Americans to fuel their sales. Richemont, the Swiss company behind IWC and Jaeger-LeCoultre, observed this trend in its sales last year. Plus, due to the history and heritage of these brands, watchmakers cannot simply move their production away from Switzerland because so mu
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News
- Swatch Group, Citizen Watch Investigated by Italian Competition Authority Over Pricing Practices [Yahoo! Finance]Yahoo! Finance
- US investor Wood lambastes Swatch, proposes overhaul to company's board, FT reports [CNBC]CNBC
- Could Easing US Tariffs Reveal a Competitive Advantage for Swatch Group (SWX:UHR)? [Yahoo! Finance]Yahoo! Finance
- Swiss watchmaker stocks rally as Trump dangles relief from steep 39% US tariff [Yahoo! Finance]Yahoo! Finance
- U.S. and Switzerland working on a deal to slash 39% tariffs [CNBC]CNBC