Swiss Watchmaking Industry Grapples With Spike In US Trade Tariffs

(MENAFN- Swissinfo) The 39% tariffs on Swiss exports to the United States, introduced in August, are a heavy blow for Swiss watchmakers. Industry journalist Alexey Tarkhanov went to the Geneva Watch Days trade fair to get a feel for the mood. This content was published on September 12, 2025 - 09:00 7 minutes Alexey Tarkhanov

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The announcement had already cast a shadow over Swiss National Day, August 1. One month later, during the Geneva Watch Days 2025External link , which ran from September 4-7, the question was on everybody's lips, even overshadowing the launch of new collections: what will become of these watches on the US American market, the main destination for Swiss timepieces since the Chinese slowdown from 2022?

Watchmaking accounts for around 7% of total Swiss exports, and nearly 17% of the value of watch exports goes to the United States. In 2024 this represented more than CHF4.3 billion ($5.4 billion).

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Several major brands already upped their prices in spring in response to the strong Swiss franc and the introduction of an initial 10% tariff. With the new duties announced by US President Donald Trump on August 1, the cost is likely to become prohibitive for many customers, undermining demand for Swiss watches across the Atlantic.

“Together we are pressuring the federal government to keep negotiating for a better agreement. It is shocking to see that the European Union is taxed at 15%, while we are subject to 39%. We are therefore calling for further talks,” said Delphine Bachmann, responsible for economic affairs for the Geneva cantonal government, at the opening of the fair.

Some hope that Bern will achieve an alignment with the tariffs applied to its European neighbours: 15% for the EU and 10% for the United Kingdom. Others are counting on the US justice system: a federal appeals court has ruled that some of the taxes are illegal, while provisionally maintaining them until October 14, pending a decision by the US Supreme Court.

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