Swiss watch exports to US plummet in April after pre-tariff rush

Swiss watch exports to the United States plummeted ⁠by more than half in April after a spike last year, when watchmakers rushed to move ⁠their ‌products to the country ⁠ahead of the onset of President Donald Trump’s tariffs.

Swiss ​watch ​exports overall declined by 16.6% in April compared to the same month last year, ‌with ​the US marking the biggest drop at ‌56.4%. “The US remains ⁠difficult to read because ‌tariff and inventory effects are still creating a seesaw pattern that should continue through the year,” Vontobel analyst Jean-Philippe Bertschy wrote in ​a note.

Swiss watch exports to France meanwhile continued their upward trend with an increase ​of ‌46.3% ​due to rerouting in Europe, ‌not reflecting ‌demand. While almost all categories of materials dropped overall, watches made from precious ⁠metals fell the most, by 24.3%. This was followed by steel models, which fell by ‌18.1% in ​terms of value.