Swiss watch exports to US soared ahead of Trump tariffs

The United States has been the apical marketplace for Swiss-made watches since 2021. Photo: Fabrice COFFRINI / AFP/File
Source: AFP

Swiss ticker exports to the cardinal US marketplace soared astir 14 percent successful March, apt the effect of retailers stocking up earlier US President Donald Trump announced his tariffs connected countries worldwide.

Analysts person warned that Switzerland's storied watchmaking industry could beryllium among the hardest deed by the 31-percent import levies for Swiss goods announced successful aboriginal April -- though they person since been paused for 90 days.

But a baseline 10-percent tariff connected each US imports inactive took effect connected April 5.

In March, Swiss ticker exports to the United States jumped 13.7 percent compared to a twelvemonth earlier, rebounding aft a 6.7 percent driblet the erstwhile month, the country's watchmakers' federation said.

That helped exports wide borderline up 1.5 percent to 2.38 cardinal francs ($2.9 billion).

"We judge the 14-percent summation successful US exports is importantly inflated by the tariff chaos, arsenic earlier shipments overseas had already begun weeks ago," said Vontobel expert Jean-Philippe Bertschy.

The United States has been the biggest marketplace for Swiss watches since 2021, overtaking Hong Kong and China, which had agelong been the apical markets for the industry.

"The US exports astir apt bespeak Swiss producers pushing merchandise and US retailers pulling up of US tariffs successful April," said Jon Cox, an expert astatine Kepler Cheuvreux.

But helium warned that "every denotation retired determination points to a slowdown successful the US market".

Source: AFP