Reported 27 days ago
Shares of Swiss luxury watchmakers, such as Richemont and Swatch, fell sharply following President Donald Trump's announcement of a 39% tariff on Swiss imports. The industry, already facing challenges from a strong franc and declining global demand, could see exports hit their lowest levels since the pandemic. Analysts warn that sustained tariffs could devastate numerous Swiss brands, causing unease in the market as trading resumed after a holiday break.
Source: YAHOO