Swiss watch exports to US soar as time ticks on tariffs
Swiss President Karin Keller-Sutter held trade talks with a US representative in Geneva earlier this month. (EPA Images pic)
ZURICH : Swiss watch exports to the US soared last month as US President Donald Trump called time out on tariffs, today's industry figures showed.
US-bound shipments soared by 149.2% in April compared to the same month a year ago, according to the federation of the Swiss watch industry.
Trump imposed a 10% tariff on imports from around the world in early April but hit dozens of countries with steeper duties, with Swiss goods facing a 31% levy.
The US president, however, paused the higher tariffs until July to give time for negotiations.
The surge in Swiss watch exports to the US was 'mainly the result of early shipments' as higher US tariffs loom, the federation said.
'The sharp rise in exports is therefore more a reflection of a one-off response to an uncertain commercial situation than a genuine sign of a structural strengthening of demand,' it added.
Global Swiss watch exports rose by 18.2% in April to 2.5 billion Swiss francs (US$3 billion).
Without the exceptional US shipments, overall exports would have fallen by 6.4% due to a slump in China and Hong Kong, the federation said.
The US is by far the main market for the Swiss watch industry, whose timepieces must be made domestically to earn the 'made in Switzerland' label.
Swiss President Karin Keller-Sutter held trade talks with US Treasury Secretary Scott Bessent in Geneva earlier this month.
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