As the July 9 deadline for suspended US tariffs approaches, Swiss watchmakers are calling on Bern and Washington to finalize a clear agreement. Yves Bugmann, president of the Federation of the Watch Industry (FH), warns that failure to reach terms could trigger a 21 per cent duty on exports, forcing price increases and market disruption.
Looming Tariff Deadline
In April, the US administration announced a 21 per cent tariff on Swiss watches, suspended for 90 days. “We need a clear solution before July 9,” Bugmann told AWP at the FH general assembly in Lausanne. Without an extension or repeal, brands face “unliveable” cost adjustments. An immediate agreement—or at least an extension—would prevent sudden price hikes and maintain industry stability.
Market Impact and Response
Despite a 25.3 per cent decline in May exports to the US compared with April, overall shipments rose 28.5 per cent in the first five months of 2025, as buyers stocked up ahead of the tariff deadline. Switzerland remains a major investor in the United States, and US industrial imports enter Switzerland duty-free—arguments Bugmann says strengthen Bern’s negotiating position.
Path to a Swift Agreement
Regular talks between the FH and the State Secretariat for Economic Affairs (Seco) are “on the right track,” according to Bugmann. He stresses that even if duties take effect, Swiss authorities will continue dialogue to secure a fair outcome. With fewer than two weeks until July 9, all eyes now turn to public statements from both governments and any last-minute diplomatic interventions.
