Swiss watch exports to the US soared final month as US President Donald Trump referred to as day out on tariffs, business figures confirmed on Tuesday.
US-bound shipments soared by 149.2 p.c in April in comparison with the identical month a yr in the past, in line with the Federation of the Swiss Watch business.
Trump imposed a ten p.c tariff on imports from all over the world in early April however hit dozens of nations with steeper duties, with Swiss items dealing with a 31 p.c levy.
The US president, nevertheless, paused the upper tariffs till July to provide time for negotiations.
The surge in Swiss watch exports to the US was “primarily the results of early shipments” as increased US tariffs loom, the federation mentioned.
“The sharp rise in exports is due to this fact extra a mirrored image of a one-off response to an unsure business state of affairs than a real signal of a structural strengthening of demand,” it added.
International Swiss watch exports rose by 18.2 p.c in April to 2.5 billion Swiss francs ($3 billion).
With out the distinctive US shipments, general exports would have fallen by 6.4 p.c on account of a hunch in China and Hong Kong, the federation mentioned.
The US is by far the primary marketplace for the Swiss watch business, whose timepieces should be made domestically to earn the “made in Switzerland” label.
Swiss President Karin Keller-Sutter held commerce talks with US Treasury Secretary Scott Bessent in Geneva earlier this month.
This story was initially featured on Fortune.com
