Swiss Watch Exports Surge 149% to U.S. Ahead of Tariff Deadline

Swiss watch exports surged by around 18% in April 2025, driven primarily by a dramatic 149% increase in shipments to the United States ahead of anticipated US tariffs on Swiss imports. This surge was largely a one-time stockpiling response from retailers aiming to avoid the planned 31% tariff imposed under the Trump administration’s trade reciprocity policy, rather than a sign of sustained demand growth. Exports to key Asian markets like China and Hong Kong continued to decline sharply, reflecting broader economic challenges and reduced consumer spending in those regions. While exports to the UK, Japan, and France showed slight growth, overall global orders remain under pressure, and excluding US shipments, Swiss watch exports actually fell by over 6%. The industry faces uncertainty as negotiations on tariffs continue, with the looming possibility of higher duties threatening to impact future export volumes. Analysts noted that the current rise reflects an artificial spike rather than a structural strengthening of the Swiss watch sector.