Business News: Swiss Watch Exports to US surgery in April after a tariff shock by almost 150%

The United States overtook China in 2021 as the upper destination for the Swiss Watch exports. A real estate crisis and an economic downturn in China have led to a decline in wholesale orders for watches of retailers, since consumers are still careful. Richemont, whose brands Cartier, Panerai and IWC belong, recently bought back some watches from Chinese retailers. The company has announced in its annual financial results.

Trump lowered the so -called “mutual” tariff level of 31% against Switzerland to the ceiling, which is now available for most trading partners, with the exception of China until July 9. Switzerland and other US trade partners, including the European Union, which are used with brands such as Nomos and A. Lange, and A. Lange, and A.

Switzerland has “moved into the front of the queue”, among the preferred nations who tried to negotiate a trade agreement, said US Finance Minister Scott Bessent on May 12th reporters in Geneva. So far, no agreement has been reached.