U.S. Imposes 39% Tariff on Swiss Luxury Goods, Impacting Watch Prices

The U.S. government has recently announced a significant 39% tariff on Swiss luxury goods, set to begin next week. This tariff will primarily target the luxury watch market, widely renowned for its Swiss craftsmanship and design. Brands including Swatch Group and Compagnie Financière Richemont (CFR.SW) are poised to face immediate repercussions. This development marks a tense phase in U.S.-Switzerland trade relations, likely impacting prices and consumer demand in the American market.