Swiss watch exports US tariffs 2025 have quickly become one of the dominant topics in the industry this quarter, as brands scramble to clear stock and accelerate shipments into the American market.
In April alone, exports to the United States jumped more than 150%, reaching CHF 852 million, according to the latest data from the Federation of the Swiss Watch Industry (FH).
That figure more than doubles the CHF 405 million exported in March, representing close to two months’ worth of inventory shipped across the Atlantic in a single month.
New US Tariffs Drive Inventory Surge
The reason for this surge is clear. With new US tariffs looming, brands are pulling forward as much inventory as possible before the window closes. Currently, Swiss imports into the United States are subject to a 10% tariff.
However, barring any political shifts, that rate is set to jump to 31% after July 9 under measures introduced during the administration of American President Donald Trump. The potential cost impact is significant enough to justify the current flood of exports.
Despite broader economic headwinds, there are early signs of stabilisation in US consumer sentiment. The Conference Board, a leading economic research group, reported an uptick in American consumer confidence for the first time in five months.
That improvement offers at least some optimism for brands that bank on strong retail activity once this excess inventory is cleared.
Declining Asian Demand Reshapes Global Strategy
The US market has become increasingly vital for the Swiss watch industry in recent years, particularly as demand in China and Hong Kong has continued to decline. April exports to China decreased by 30.5%, while those to Hong Kong fell by 22.8%.
The decline in Chinese luxury consumption, first triggered nearly a decade ago by government anti-corruption efforts, shows no signs of reversing, and the slowdown is now affecting multiple sectors well beyond the watch industry.
While some manufacturers have been able to redirect inventory to alternative regions, others are taking more defensive steps, including buying back unsold stock and scaling back production volumes.
Broader Asian demand remains under pressure, with Singapore down 9.2% for the month. Japan stands as the lone bright spot in the region, posting modest but consistent growth.
Swiss Watch Exports US Tariffs 2025: The Outlook Remains Uncertain
For now, Swiss watchmakers are playing a delicate balancing act: accelerating shipments to the United States while recalibrating exposure elsewhere.
Whether this strategy proves sustainable in the face of shifting global demand remains to be seen, but for the moment, the rush to fill American showcases is fully underway.
