39% Tariff Hits Swiss Watches Next Week

The U.S. will impose a 39% import tariff on Swiss goods—including watches—starting August 7. President Trump signed the executive order on July 31, raising the rate from the 31% tariff first announced in April.

The move blindsided Swiss officials, who believed a lower rate had been negotiated. Swiss President Karin Keller‑Sutter called the 39% figure “a surprise” and warned it would damage the country’s economy. The Federation of the Swiss Watch Industry labeled the new tariff “severe,” pointing to the United States as one of Switzerland’s most important export markets.

Rolex, Tudor, and the Swiss Watch Industry Feel the Pressure

The U.S. market is critical for brands like Rolex, Tudor, Patek Philippe, Audemars Piguet, and Omega, and all of them are directly exposed to this change. None have issued statements, but with export duties approaching 40%, the cost of delivering watches to the U.S. just went up sharply.

Curved-End Rubber Strap For Rolex Daytona

Swiss watch exports were already slowing in 2025, and the timing of this tariff could push brands to adjust allocations. It’s possible we’ll see more stock headed to markets without the new duties—places like Europe, Canada, or the Caribbean—while U.S. shipments remain limited. For Rolex in particular, that could mean fewer AD calls and tighter availability in the near term.

A New Chapter for the U.S. Watch Market

For now, retail pricing hasn’t changed. But tariffs of this magnitude are rarely absorbed entirely by manufacturers. Even without official price adjustments, secondary market activity could shift as U.S. collectors focus on watches already stateside.

The United States has historically offered some of the most favorable import conditions for Swiss watches. A 39% tariff marks a historic reversal—and one that could reshape how American enthusiasts buy and sell luxury watches if it lingers.

Bottom Line

Image Source: Teddy Baldassarre

This is the highest U.S. tariff on Swiss watches in modern history. Brands have not yet signaled how they will respond, but allocations, pricing, and market dynamics are all under pressure. For collectors, the next few months will reveal how quickly these changes filter down to the watches in display cases—and the ones already on U.S. wrists.