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
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
