Swiss Watch Exports to US Plunge Over 56% in April Post Tariff Surge
Impact of Tariffs on Swiss Watch Exports
Sharp Decline in US Exports
ZURICH, June 2 (Reuters) - Swiss watch exports to the United States plummeted by more than half in April after a spike last year, when watchmakers rushed to move their products to the country ahead of the onset of President Donald Trump's tariffs.
• Swiss watch exports overall declined by 16.6% in April compared to the same month last year, with the U.S. marking the biggest drop at 56.4%.
Market Volatility and Analyst Insights
• "The U.S. remains difficult to read because tariff and inventory effects are still creating a seesaw pattern that should continue through the year," Vontobel analyst Jean-Philippe Bertschy wrote in a note.
Trends in Other Export Markets
Growth in Exports to France
• Exports to France meanwhile continued their upward trend with an increase of 46.3% due to rerouting in Europe, not reflecting demand.
Performance by Watch Material
Decline in Precious Metals and Steel Watches
• While almost all categories of materials dropped overall, watches made from precious metals fell the most, by 24.3%, followed by steel models, by 18.1%, in terms of value.
(Reporting by Marleen Kaesebier in Zurich, additional reporting by Alessandro Parodi, Editing by Friederike Heine)
