The United States has officially reduced tariffs on Swiss watches and several other Swiss exports, cutting duties from 39% to 15% as part of a newly announced trade agreement.
The White House confirmed the move on 14 November, describing the accord with Switzerland and Liechtenstein—which shares the same customs framework—as a “historic trade deal” aimed at revitalising cross-border commerce.
The tariff rollback follows months of volatility in the luxury sector. After the US imposed steep duties on 7 August, Swiss watch exports to America dropped sharply, plunging over 55% in September, according to the latest export data.
Despite the turbulence, Switzerland’s watch industry posted strong overall numbers. For the first nine months of 2025, exports to the US rose 10% year-on-year, reaching CHF 3.5 billion (USD 4.2 billion). The US remained Switzerland’s largest single market, representing roughly 20% of total export value.
By cutting tariffs, Washington has aligned Switzerland and Liechtenstein—neither of which belong to the European Union—with the same rate structure applied to EU member states.
President Donald Trump signalled earlier in November that tariff relief was imminent.
“I haven’t set any number, but we’re going to be working on something to help Switzerland,” he remarked.
According to the White House, the new trade framework will significantly broaden access for American exporters to Swiss markets, creating “new opportunities for US manufacturers, farmers, ranchers, fishermen, and other producers.”
The administration also highlighted the USD 38.5 billion goods trade deficit with Switzerland and Liechtenstein recorded in 2024, stating that the agreement “puts the US on a path to eliminate that deficit by 2028.”
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
