Tariff cut on Swiss watch imports backdated to November 14
Tariffs on Swiss watch imports to the United States have been reduced from over 39% to a maximum of 15%, effective retroactively from November 14, 2025. This decision aims to provide significant relief to importers, allowing them to claim refunds on the higher tariffs paid in the preceding months. The Swiss State Secretariat for Economic Affairs noted that this change would enhance access to the U.S. market for Swiss companies and restore their competitiveness, aligning them with companies from the EU and other trading partners. As a result of the tariff rollback, Swiss watch brands now face the decision of reversing price increases that occurred due to the previous tariffs. Patek Philippe is expected to restore dealer margins and lower prices that were raised after the initial tariff hikes. Other major manufacturers, like Rolex and Audemars Piguet, absorbed the costs of the previous increases and chose not to raise prices further, potentially positioning themselves for long-term gains as they navigate the fluctuating tariff landscape.
