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Swiss luxury watchmakers' shares drop after tariff shock
Gulf Today
|August 05, 2025
Swiss luxury watchmakers' shares, including Richemont and Swatch, were volatile in early trade on Monday, reflecting the challenge for the industry after US President Donald Trump set a 39 per cent tariff on Swiss imports.
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The sector, which exported watches worth 26 billion Swiss francs ($33 billion) in 2024, is already under pressure from a stronger franc and falling global demand. Watch exports are on track to hit their lowest levels since the pandemic in 2020.
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Gulf Today
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