Policies & Issues

U.S., Switzerland Reach Deal That Drops Tariff to 15%

Policies & 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.

Rolex Perpetual 1908 watch with 18-karat yellow gold bracelet
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 … 

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. 

The Latest

The Retail Smiths Principal Sherry Smith
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your Christmas

The stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.

The “Pragnell Kimberley Sunshine Diamond,” 22.09 carats and fancy yellow
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for Auction

The 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.

Greenwich St. Jewelers Adornos photography exhibit
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition

“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.

Cover.jpg
Brought to you by
Your Piece Could Be the One Editors Talk About

Submit your pieces for a chance to win in this year's competition.

Stock image of rough emeralds mined by Gemfields
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 Months

The company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”

Weekly QuizSep 10, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Kealeboga Pule and Black Coffee
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care Program

The nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.

Greenwich St. Jewelers Scattered Sapphire Cigar Band
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers

The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.

1872-x-1052-July-ad (1).png
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying Events

Retailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.

Make A Wish East Tennessee
MajorsSep 11, 2026
The Wishing Place by JTV Opens

The jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.

The Edge logo
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry Professionals

The recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.

Steven Lagos and Keith Rolfe
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO

Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.

Alberto Perez-Elias mugshot
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry Heist

Alberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.

Kat Florence Paraibas
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’s

The “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.

AGTA logo
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected Directors

Four directors were elected to the AGTA board and will serve three-year terms beginning in February.

New Julien’s Auctions CEO Ken Citron
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions

Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.

Blue Nile Ellipse earrings
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong Sales

The jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.

Sarah Leonard Fine Jewelers family
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 Years

The Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.

Fura rubies
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest Sale

The auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.

Stuller Fine Jewelry 2027-2028 catalog
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine Collection

Fine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.

Frederick (Ricky) Wilkinson Bromberg
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67

Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.

Zahn Z Zaha rainbow sapphire ring
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone

With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.

The Retail Smiths principal and National Jeweler columnist Peter Smith
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing Matter

Laughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.

Gretchen Koback Pursel
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury Group

Gretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.

Rendering of renovated Orloff Jewelers store
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better Location

The California jeweler is renovating its store in Fresno, with plans to show off the new space in December.

Chelsea Gabrielle Momentum Infinite Ring
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring

A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.

JCK Industry Fund logo
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 Applications

The deadline to apply is Nov. 13.

Remi Guillemin
AuctionsSep 04, 2026
Christie's Names New Global Head of Watches

The auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy