Reported about 2 hours ago
Swiss watch exports saw a significant decline of about 17% in August, primarily due to weak demand in China, which dropped by 36%, and the implementation of high US tariffs that began on August 7. The downturn highlights challenges faced by major Swiss watchmakers including Richemont and Swatch Group, with analysts indicating that the adverse conditions outweigh any signs of a recovery in the US market. As a response, brands like Swatch have creatively addressed the tariff issue while awaiting more favorable trade agreements between Switzerland and the US.
Source: YAHOO