#BinanceTurns8

#TrumpTariffs

The tariffs imposed by Trump are causing headaches for Swiss watch sellers, Reuters reports. A Rolex watchmaker's logo adorns a building on Grendel Street during a rainy day at Schwanenplatz in Lucerne, Switzerland, on June 26, 2025.

Swiss watch sellers in Lucerne have faced three difficult months since American President Donald Trump pressured the luxury sector by threatening heavy tariffs, decreasing interest from tourists who flock to the city partly to purchase watches.

Reuters spoke with more than a dozen industry workers in the watch sales hub, including store managers and salespeople, who stated that tariff uncertainty has weighed on a sector that exported watches worth 26 billion Swiss francs ($32.79 billion) in 2024.

The industry is already grappling with weak Chinese demand, while in Switzerland, a franc boosted by American trade uncertainty has made watches more expensive for foreign tourists.