Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayPolicies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%
The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
The Perpetual 1908 with the new 18-karat yellow gold “Settimo” bracelet was one of the new models Rolex introduced this year. On Friday, Switzerland announced that it had reached a deal with the U.S. government to cut tariffs on Swiss imports, like watches, from 39 percent to 15 percent.
Washington, D.C.—The United States and Switzerland have reached a deal that will cut tariffs on Swiss imports by more than half, a welcome announcement for both watch brands and retailers.
The Swiss government announced the deal Friday on X, writing, “Switzerland and the U.S. have successfully found a solution: U.S. tariffs will be reduced to 15%. Thanks to President Trump for the constructive engagement. The meeting with [U.S. Trade Representative Amb. Jamieson Greer] was productive.”
Greer confirmed that a framework for a deal had been reached during an appearance on CNBC’s “Squawk Box” Friday morning.
“We’ve essentially reached a deal with Switzerland,” he said when asked which countries were next in line for trade deals.
“They’re going to send a lot of their manufacturing to the United States—pharmaceuticals, gold smelting, railway equipment, so we’re really excited about that deal and what it means for American manufacturing.”
Related stories will be right here …
The Swiss government announced the deal Friday on X, writing, “Switzerland and the U.S. have successfully found a solution: U.S. tariffs will be reduced to 15%. Thanks to President Trump for the constructive engagement. The meeting with [U.S. Trade Representative Amb. Jamieson Greer] was productive.”
Greer confirmed that a framework for a deal had been reached during an appearance on CNBC’s “Squawk Box” Friday morning.
“We’ve essentially reached a deal with Switzerland,” he said when asked which countries were next in line for trade deals.
“They’re going to send a lot of their manufacturing to the United States—pharmaceuticals, gold smelting, railway equipment, so we’re really excited about that deal and what it means for American manufacturing.”
Trump set the tax on imports from Switzerland at 39 percent starting Aug. 1, just as his pause on “reciprocal” tariffs was lifting.
The steep tax roiled the watch industry, and leaders from top Swiss watch brands engaged with the president in an effort to improve relations and relay how the steep tariff negatively impacts the industry.
Rolex invited Trump to be its guest at the U.S. Open men’s final in September (Rolex is the official timekeeper of the tennis tournament), and last week, executives from Rolex and Richemont, along with other Swiss business leaders, met with Trump to discuss a possible trade agreement.
Greer said on CNBC that more details about the trade deal with Switzerland will be posted to the White House website later today.
More on Policies & Issues
The Latest
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
