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Straits Times
05-08-2025
- Business
- Straits Times
‘He likes Swiss watches': Trump shocks world of horology with tariffs
Sign up now: Get ST's newsletters delivered to your inbox The administration's 39 per cent tariff on all Swiss imports would likely lead to retail-price increases of 12 to 14 per cent. The Trump administration jolted Switzerland with punitive new tariffs on Aug 1. Few seemed to be more taken aback than buyers and sellers of Swiss watches. Mr Oliver R. Muller, a luxury watch consultant based in Switzerland, was indignant at the blow that tariffs will likely inflict on the country's watch industry, which has recently been relying on demand from the United States to offset fading sales in China. 'It's another burden that comes on top of many others,' he said in an interview. The administration's 39 per cent tariff on all Swiss imports, if passed along from sought-after brands like Rolex, Patek Philippe and Omega to distributors in the US, would likely lead to retail-price increases of 12 to 14 per cent, Mr Muller estimated. That would add about US$1,000 (S$1,288) to the US$9,500 price of a stainless steel Rolex Submariner. Shares of Watches of Switzerland Group fell by as much as 6 per cent after US President Donald Trump imposed a 39 per cent tariff on imports from Switzerland, one of the steepest rates globally in his escalating trade war. The retailer, which sells Rolex and other Swiss timepieces in the United Kingdom and the US, bore the brunt of the latest tariff salvo. Financial markets in Switzerland were closed for a holiday on Aug 1, initially sparing listed producers such as Richemont and Swatch Group. Swiss watch exports had already been hit in advance of the latest news, surging in the spring when Mr Trump threatened a 31 per cent levy as importers in other markets tried to get in ahead of the tariffs, then easing on hopes of a settlement at a lower rate. Top stories Swipe. Select. Stay informed. Singapore 'She had a whole life ahead of her': Boyfriend mourns Yishun fatal crash victim World Israel says it will allow controlled entry of goods into Gaza via merchants Singapore Singapore-made bot matchmakes strangers virtually – without profile photos Life Urinary issues: Enlarged prostate affects half of men in their 50s and up Business Lendlease Reit to sell office component of Jem to Keppel for $462 million Singapore Conditional warning for ex-manager at Mendaki accused of trying to obtain laptop as bribe If the 39 per cent tariff goes ahead, it could require price increases of more than 20 per cent in the US, according to Jefferies analysts led by Mr James Grzinic. There is also a possibility that the tariffs do not go into effect. 'The one-week hiatus until implementation suggests this could be a negotiating tactic,' he said in a note. Swiss watches are a longstanding signal of affluence, and over the years, Mr Trump has been seen wearing various high-end timepieces, including a Rolex. Members of his family and his administration have also sported Swiss watches in public. For observers, that made the 39 per cent levy all the more vexing. 'On top of it all, he likes Swiss watches,' Mr Muller said. High-end watches have been drawing a growing American fan base in recent years, with obsessive owners showing off their collections on social media. The chain retailer Watches of Switzerland, which has locations in tony shopping areas across the US, said in a statement that it would 'continue to work closely with our brand partners to mitigate any potential impact'. Trump administration officials did not seem to be focused on watches when they put the tariffs in place, instead citing pharmaceuticals as a driving force in the trade imbalance between the countries. The US has no large luxury-watch-making industry of its own. Online watch enthusiasts have long clocked the make and reference numbers of the high-end watches of Trump officials. Federal Bureau of Investigation director Kash Patel has been spotted wearing a Breitling. Former department of government efficiency (Doge) czar Elon Musk has a Tag Heuer with the SpaceX logo. Secretary of State Marco Rubio – who in a previous political life declared that Mr Trump, had he not inherited a fortune from his father, would be 'selling watches in Manhattan' – has worn a Rolex, too. There were already warning signs in the Swiss watch industry before Mr Trump's tariffs. Exports fell 5.6 per cent in June compared with a year earlier, according to the Federation of the Swiss Watch Industry, a trade group. That was driven by 'significant declines' in sales in the US, Japan and Hong Kong, the group said in a monthly report. Mr Trump lent his name and signature to a line of Maga (Make America Great Again)-coded timepieces last year, including a US$100,000 'Swiss-made' Tourbillon. The makers of the watch, a firm registered as TheBestWatchesonEarth, did not respond to a request for comment sent through an intermediary. The site states that the watches 'are not political and have nothing to do with any political campaign'. BLOOMBERG
Fashion Network
04-08-2025
- Business
- Fashion Network
‘He likes Swiss watches!': Trump shocks horology with tariffs
The Trump administration jolted Switzerland with punitive new tariffs. Few seemed to be more taken aback than buyers and sellers of Swiss watches. Oliver R. Müller, a luxury watch consultant based in Switzerland, was indignant at the blow that tariffs will likely inflict on the country's watch industry, which has recently been relying on demand from the US to offset fading sales in China. 'It's another burden that comes on top of many others,' Müller said in an interview. The administration's 39% tariff on all Swiss imports, if passed along from sought-after brands like Rolex, Patek Philippe and Omega to distributors in the US, would likely lead to retail-price increases of 12% to 14%, Müller estimated. That would add about 1,000 dollars to the 9,500 dollar price of a stainless steel Rolex Submariner. Swiss watches are a longstanding signal of affluence, and over the years the president has been seen wearing various high-end timepieces, including a Rolex. Members of his family and his administration have also sported Swiss watches in public. For observers, that made the 39% levy all the more vexing. 'On top of it all, he likes Swiss watches!' Müller said. High-end watches have been drawing a growing American fan base in recent years, with obsessive owners showing off their collections on social media. The chain retailer Watches of Switzerland, which has locations in tony shopping areas across the US, said in a statement that it would 'continue to work closely with our brand partners to mitigate any potential impact.' Trump administration officials didn't seem to be focused on watches when they put the tariffs in place, instead citing pharmaceuticals as a driving force in the trade imbalance between the countries. The US has no large luxury-watch making industry of its own. Online watch enthusiasts have long clocked the make and reference numbers of the high-end watches of Trump officials. FBI Director Kash Patel has been spotted wearing a Breitling. Former DOGE czar Elon Musk has a TAG Heuer with the SpaceX logo. Secretary of State Marco Rubio- who in a previous political life declared that Trump, had he not inherited a fortune from his father, would be 'selling watches in Manhattan'- has worn a Rolex, too. There were already warning signs in the Swiss watch industry before Trump's tariffs. Exports fell 5.6% in June compared with a year earlier, according to the Federation of the Swiss Watch Industry, a trade group. That was driven by 'significant declines' in sales in the US, as well as Japan and Hong Kong, the group said in a monthly report. Trump lent his name and signature to a line of MAGA-coded timepieces last year, including a 100,000 dollar 'Swiss-made' Tourbillon. The makers of the watch, a firm registered as TheBestWatchesonEarth LLC, didn't respond to a request for comment sent through an intermediary. The site states that the watches 'are not political and have nothing to do with any political campaign.'
Fashion Network
04-08-2025
- Business
- Fashion Network
‘He likes Swiss watches!': Trump shocks horology with tariffs
The Trump administration jolted Switzerland with punitive new tariffs. Few seemed to be more taken aback than buyers and sellers of Swiss watches. Oliver R. Müller, a luxury watch consultant based in Switzerland, was indignant at the blow that tariffs will likely inflict on the country's watch industry, which has recently been relying on demand from the US to offset fading sales in China. 'It's another burden that comes on top of many others,' Müller said in an interview. The administration's 39% tariff on all Swiss imports, if passed along from sought-after brands like Rolex, Patek Philippe and Omega to distributors in the US, would likely lead to retail-price increases of 12% to 14%, Müller estimated. That would add about 1,000 dollars to the 9,500 dollar price of a stainless steel Rolex Submariner. Swiss watches are a longstanding signal of affluence, and over the years the president has been seen wearing various high-end timepieces, including a Rolex. Members of his family and his administration have also sported Swiss watches in public. For observers, that made the 39% levy all the more vexing. 'On top of it all, he likes Swiss watches!' Müller said. High-end watches have been drawing a growing American fan base in recent years, with obsessive owners showing off their collections on social media. The chain retailer Watches of Switzerland, which has locations in tony shopping areas across the US, said in a statement that it would 'continue to work closely with our brand partners to mitigate any potential impact.' Trump administration officials didn't seem to be focused on watches when they put the tariffs in place, instead citing pharmaceuticals as a driving force in the trade imbalance between the countries. The US has no large luxury-watch making industry of its own. Online watch enthusiasts have long clocked the make and reference numbers of the high-end watches of Trump officials. FBI Director Kash Patel has been spotted wearing a Breitling. Former DOGE czar Elon Musk has a TAG Heuer with the SpaceX logo. Secretary of State Marco Rubio- who in a previous political life declared that Trump, had he not inherited a fortune from his father, would be 'selling watches in Manhattan'- has worn a Rolex, too. There were already warning signs in the Swiss watch industry before Trump's tariffs. Exports fell 5.6% in June compared with a year earlier, according to the Federation of the Swiss Watch Industry, a trade group. That was driven by 'significant declines' in sales in the US, as well as Japan and Hong Kong, the group said in a monthly report. Trump lent his name and signature to a line of MAGA-coded timepieces last year, including a 100,000 dollar 'Swiss-made' Tourbillon. The makers of the watch, a firm registered as TheBestWatchesonEarth LLC, didn't respond to a request for comment sent through an intermediary. The site states that the watches 'are not political and have nothing to do with any political campaign.'
Mint
01-08-2025
- Business
- Mint
‘He Likes Swiss Watches!': Trump Shocks Horology With Tariffs
The Trump administration jolted Switzerland with punitive new tariffs. Few seemed to be more taken aback than buyers and sellers of Swiss watches. Oliver R. Müller, a luxury watch consultant based in Switzerland, was indignant at the blow that tariffs will likely inflict on the country's watch industry, which has recently been relying on demand from the US to offset fading sales in China. 'It's another burden that comes on top of many others,' Müller said in an interview. The administration's 39% tariff on all Swiss imports, if passed along from sought-after brands like Rolex, Patek Philippe and Omega to distributors in the US, would likely lead to retail-price increases of 12% to 14%, Müller estimated. That would add about $1,000 to the $9,500 price of a stainless steel Rolex Submariner. Swiss watches are a longstanding signal of affluence, and over the years the president has been seen wearing various high-end timepieces, including a Rolex. Members of his family and his administration have also sported Swiss watches in public. For observers, that made the 39% levy all the more vexing. 'On top of it all, he likes Swiss watches!' Müller said. High-end watches have been drawing a growing American fan base in recent years, with obsessive owners showing off their collections on social media. The chain retailer Watches of Switzerland, which has locations in tony shopping areas across the US, said in a statement that it would 'continue to work closely with our brand partners to mitigate any potential impact.' Trump administration officials didn't seem to be focused on watches when they put the tariffs in place, instead citing pharmaceuticals as a driving force in the trade imbalance between the countries. The US has no large luxury-watch making industry of its own. Online watch enthusiasts have long clocked the make and reference numbers of the high-end watches of Trump officials. FBI Director Kash Patel has been spotted wearing a Breitling. Former DOGE czar Elon Musk has a TAG Heuer with the SpaceX logo. Secretary of State Marco Rubio — who in a previous political life declared that Trump, had he not inherited a fortune from his father, would be 'selling watches in Manhattan' — has worn a Rolex, too. There were already warning signs in the Swiss watch industry before Trump's tariffs. Exports fell 5.6% in June compared with a year earlier, according to the Federation of the Swiss Watch Industry, a trade group. That was driven by 'significant declines' in sales in the US, as well as Japan and Hong Kong, the group said in a monthly report. Trump lent his name and signature to a line of MAGA-coded timepieces last year, including a $100,000 'Swiss-made' Tourbillon. The makers of the watch, a firm registered as TheBestWatchesonEarth LLC, didn't respond to a request for comment sent through an intermediary. The site states that the watches 'are not political and have nothing to do with any political campaign.' With assistance from Chris Rovzar.
Buzz Feed
31-07-2025
- Buzz Feed
I'm A Watch Collector And This $45 Diver Is A Must-Have
As a burgeoning watch aficionado, I'm always on the hunt for great timepieces across all price points. From luxury models to affordable 'beaters', the watch market is flooded with noise — which is why I'm excited to share one of the best men's watches I've come across: the Casio MDV106 series dive Watch. And it's an absolute steal. I'm no certified horologist, but I do spend a fair share of my free time immersed in the online watch community and scrolling through a social media feed curated for wristwatch obsessives like myself. (Heck, my fiancé even proposed to me with a watch — but that's a story for another time.) I own roughly a dozen watches at this point, so I've had to implement the 'one-in, one-out' rule. Yet this dive watch always escapes the cull. Why? Because it nails the perfect beater formula where function meets style, all at a price that's... well, unbeatable. This maritime staple channels the classic dive watch aesthetic, echoing the design language of the iconic Rolex Submariner. Its stainless steel case measures 44 millimeters wide and 12 millimeters thick, offering a bold presence on the wrist that, as a number of Amazon reviewers have also noted, looks (and feels) far more expensive than it is. The unidirectional bezel features a sturdy click and an anti-reverse mechanism. And like any good dive watch, it's water-resistant up to 200 meters (656 feet), with a durable mineral crystal protecting the dial. Unless you're deep-sea diving, this is more than sufficient for office wear, poolside dips, or beach trips. Refined details — like a date window at the 3 p.m. mark, a raised diver's marker on the bezel, and luminous hour and minute arms with a sweeping seconds hand — enhance both the watch's look and utility. The Casio dive watch is available in several striking dial and bezel combos, including black and blue sunburst finishes that catch the light beautifully. It also comes with two interchangeable strap options: a sporty resin band and a stainless steel bracelet for a more polished look. With a standard 26-millimeter lug width, you can easily swap in any strap you prefer — leather, silicone — you name it. Versatility is the name of the game here. Casio claims the included battery lasts over three years, and I can vouch for that. I've owned mine for just as long, and it's still running strong with minimal adjustments needed over time. Don't just take my word for it — over 44,000 Amazon reviewers have given it a five-star rating, praising its style, durability, and everyday functionality. The verdict is simple: the Casio dive watch is one of the best value dive watches for men. Check out a few of the most helpful reviews below, or keep scrolling to add this to your cart. Get it from Amazon for $44.95+ (available in six colors).
