Swiss watchmakers Richemont and Swatch saw volatile share movements after US President Donald Trump imposed a 39% tariff on Swiss imports. The industry, already facing a stronger Swiss franc and weakening global demand, risks its worst export levels since 2020.
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Swiss Watch Stocks Fall as US Slaps 39% Tariff on Imports
Both Richemont and Swatch shares dropped sharply before slightly recovering. Analysts warn the tariffs could severely impact mid-range watch sales, especially as the US accounts for 16.8% of Swiss watch exports. Exporters like Shahzaib Khan expect shipments to halt until clarity returns. Swatch has already raised prices by 5% in response, while Richemont’s US exposure is under 10% of sales.
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