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

Swatch groupAG

02/06/2026 08:32

       ZURICH, June 2 (Reuters) - 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 U.S. marking the
biggest drop at 56.4%.
    * "The U.S. 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.
    * 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%,
followed by steel models, by 18.1%, in terms of value.

     
     

 (Reporting by Marleen Kaesebier in Zurich, additional reporting
by Alessandro Parodi, Editing by Friederike Heine)
 ((mailto:marleen.kaesebier@thomsonreuters.com;))