{"id":535452,"date":"2025-10-23T12:02:33","date_gmt":"2025-10-23T01:02:33","guid":{"rendered":"https:\/\/dmarge.com\/?p=535452"},"modified":"2025-10-23T13:40:41","modified_gmt":"2025-10-23T02:40:41","slug":"unexpected-winner-trumps-swiss-watch-tariffs","status":"publish","type":"post","link":"https:\/\/dmarge.com\/watches\/unexpected-winner-trumps-swiss-watch-tariffs","title":{"rendered":"The Unexpected Winner From Trump\u2019s Swiss Watch Tariffs"},"content":{"rendered":"<ul class=\"wp-block-list\"><li><strong>Swiss watch exports to the US fell 56% in one month following Trump\u2019s 39% tariff.<\/strong><\/li><li><strong>The UK has overtaken the US as the biggest destination for Swiss watches.<\/strong><\/li><li><strong>London\u2019s Bond Street and Mayfair boutiques saw record allocations amid global market shifts.<\/strong><\/li><\/ul><p>When <a href=\"https:\/\/dmarge.com\/watches\/us-tariffs-rolex-cartier-patek-philippe-countries\" target=\"_blank\"  rel=\"noreferrer noopener\">Donald Trump introduced a 39% tariff on Swiss luxury watches<\/a>, the goal was to bring production closer to home, to deliver jobs and prosperity to the American people (and hopefully, still keep the bling). Instead, the American market has collapsed and Swiss watch exports to the US have fallen 56% in a single month. That is the steepest decline in modern horological history.<\/p><p>For a market that imported nearly five billion dollars\u2019 worth of watches annually, the speed of the contraction is extraordinary across the States. Retailers are overstocked and distributors are cancelling orders. Shipments that once filled American shelves are now likely being redirected or waiting idly by.<\/p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"933\" src=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-1400x933.jpg\" alt=\"Rolex London Boutique\" class=\"wp-image-535459\" srcset=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-1400x933.jpg 1400w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-960x640.jpg 960w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-640x427.jpg 640w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-768x512.jpg 768w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-London-AP-480x320.jpg 480w\" sizes=\"auto, (max-width: 480px) 400px, (max-width: 640px) 600px, (max-width: 768px) 700px, (max-width: 1024px) 800px, (min-width: 1025px) 1000px, 2048px\" \/><figcaption class=\"wp-element-caption\">The Rolex boutique in London, as Britain\u2019s luxury market looms. Image: AP<\/figcaption><\/figure><p>Yet, as there are losers, so too are there winners. And amidst all the embellished chaos that has hit the luxury market this year, the United Kingdom has seemingly benefitted from the shock.<\/p><p>Swiss watch exports to Britain rose 15.2% in September, overtaking the United States as the world\u2019s largest destination for Swiss timepieces. What was once a stable but secondary market has become the centre of gravity for global watch distribution, welcoming an influx of luxury timepieces for an already affluent market.<\/p>    <div class=\"content-subscribe\">\n        <div class=\"subscribe-box\">\n            <p class=\"subscribe-title\">Curated news for men, <br\/>delivered to your inbox.<\/p>\n            <form class=\"subscribe-form\" method=\"POST\">\n                <div class=\"subscribe-input\">\n                    <label class=\"screen-reader-text\" for=\"subscribe-email\">Email:<\/label>\n                    <input type=\"email\" name=\"email\" id=\"subscribe-email\" placeholder=\"Enter your email\" required class=\"form-control\" autocomplete=\"on\" \/>\n                    <button type=\"submit\" class=\"button button-primary subscribe-button\">Sign Up<\/button>\n                    <input type=\"hidden\" name=\"source\" value=\"article\" \/>\n                    <input type=\"hidden\" id=\"_wpnonce\" name=\"_wpnonce\" value=\"e2df992756\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/wp-json\/wp\/v2\/posts\/535452\" \/>                <\/div>\n                <div class=\"form-result\"><\/div>\n            <\/form>\n            <p class=\"subscribe-copy\">Join the DMARGE newsletter \u2014 Be the first to receive the latest news and exclusive stories on style, travel, luxury, cars, and watches. Straight to your inbox.<\/p>\n        <\/div>\n    <\/div>\n    <p>According to market data from <a target=\"_blank\" href=\"https:\/\/www.indexbox.io\/blog\/watch-united-kingdom-market-overview-2024-8\/\" rel=\"noreferrer noopener\"><em>IndexBox<\/em><\/a>, the UK watch market is forecast to reach 15 million units and $1.4 billion AUD in value by 2035. Across the UK, Swiss imports rose to 14 million units in 2024, which, although still sits below the 2016 peak, has seen consumption surge by 24% this year. <\/p>                <div class=\"row row-center collapse\">\n                    <div class=\"column\">\n                        <div class=\"dmg-ad\"><div id=\"incontent-735666344\" class=\"ad-container\"><script type=\"text\/javascript\">var load_1683334342 = function () {googletag.cmd.push(function () {var slot_1683334342 = googletag.defineSlot(\"\/1017963\/DMarge\/incontent\",[[250,250],[300,100],[300,250],[320,100],[336,280]],\"incontent-735666344\").addService(googletag.pubads()).setTargeting('refresh', 'true');if (gamData && gamData.sizeMap && gamData.sizeMap.hasOwnProperty('incontent')) {slot_1683334342.defineSizeMapping(gamData.sizeMap['incontent']);}googletag.display(\"incontent-735666344\");});};adsQueue.push(load_1683334342);<\/script><\/div><\/div>                    <\/div>\n                <\/div>\n                <figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"1400\" src=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-1400x1400.jpg\" alt=\"\" class=\"wp-image-535465\" srcset=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-1400x1400.jpg 1400w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-960x960.jpg 960w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-640x640.jpg 640w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-768x768.jpg 768w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Rolex-Day-Date-480x480.jpg 480w\" sizes=\"auto, (max-width: 480px) 400px, (max-width: 640px) 600px, (max-width: 768px) 700px, (max-width: 1024px) 800px, (min-width: 1025px) 1000px, 2048px\" \/><figcaption class=\"wp-element-caption\">The Rolex Day-Date remains a symbol of Presidential power, even as trade routes shift away from the US. Image: Rolex<\/figcaption><\/figure><p>Think of England, and, in particular, London, and you\u2019ll be forgiven for only thinking of a <a href=\"https:\/\/dmarge.com\/watches\/london-watch-theft\" target=\"_blank\"  rel=\"noreferrer noopener\">litany of watch thefts<\/a> that have hit the capital. <\/p><p>But long before Geneva became synonymous with <em><a href=\"https:\/\/dmarge.com\/watches\" target=\"_blank\"  rel=\"noreferrer noopener\">haute horlogerie\u2019s<\/a> <\/em>precision and prestige, London was the centre of global watchmaking. It was where the world\u2019s earliest chronometers were tested and where the idea of a wristwatch as a modern luxury first took hold.<\/p>                <div class=\"row row-center collapse\">\n                    <div class=\"column\">\n                        <div class=\"dmg-ad\"><div id=\"incontent-103506090\" class=\"ad-container\"><script type=\"text\/javascript\">var load_1668237562 = function () {googletag.cmd.push(function () {var slot_1668237562 = googletag.defineSlot(\"\/1017963\/DMarge\/incontent\",[[250,250],[300,100],[300,250],[320,100],[336,280]],\"incontent-103506090\").addService(googletag.pubads()).setTargeting('refresh', 'true');if (gamData && gamData.sizeMap && gamData.sizeMap.hasOwnProperty('incontent')) {slot_1668237562.defineSizeMapping(gamData.sizeMap['incontent']);}googletag.display(\"incontent-103506090\");});};adsQueue.push(load_1668237562);<\/script><\/div><\/div>                    <\/div>\n                <\/div>\n                <p>People forget that Rolex was founded in London, by Hans Wilsdorf, a young German entrepreneur who built the company\u2019s first office in Hatton Garden in 1905, before relocating to Geneva for the heritage that naturally follows. <\/p><figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5.png\" alt=\"\" class=\"wp-image-535463\" srcset=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5.png 1200w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5-960x640.png 960w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5-640x427.png 640w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5-768x512.png 768w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/image-5-480x320.png 480w\" sizes=\"auto, (max-width: 480px) 400px, (max-width: 640px) 600px, (max-width: 768px) 700px, (max-width: 1024px) 800px, (min-width: 1025px) 1000px, 2048px\" \/><figcaption class=\"wp-element-caption\">Inside Audemars Piguet\u2019s AP House London, where demand for Swiss watches shows no sign of slowing. Image: Audemars Piguet<\/figcaption><\/figure><p>Now it seems big political players have jumped on the airwaves to discourage people from wearing their watches in central London. Whether it\u2019s true, or simply a politically charged discourse cosplaying as genuine concern, London\u2019s reputation as a horological destination has taken a hit.<\/p>                <div class=\"row row-center collapse\">\n                    <div class=\"column\">\n                        <div class=\"dmg-ad\"><div id=\"incontent-1438962106\" class=\"ad-container\"><script type=\"text\/javascript\">var load_1121992119 = function () {googletag.cmd.push(function () {var slot_1121992119 = googletag.defineSlot(\"\/1017963\/DMarge\/incontent\",[[250,250],[300,100],[300,250],[320,100],[336,280]],\"incontent-1438962106\").addService(googletag.pubads()).setTargeting('refresh', 'true');if (gamData && gamData.sizeMap && gamData.sizeMap.hasOwnProperty('incontent')) {slot_1121992119.defineSizeMapping(gamData.sizeMap['incontent']);}googletag.display(\"incontent-1438962106\");});};adsQueue.push(load_1121992119);<\/script><\/div><\/div>                    <\/div>\n                <\/div>\n                <p>This was once a booming market, renowned the world over for luxury enthusiasts to come and play. You only have to <a href=\"https:\/\/dmarge.com\/watches\/worlds-most-exclusive-watch-clubs\" target=\"_blank\"  rel=\"noreferrer noopener\">look at the private members\u2019 clubs<\/a> from brands like Audemars Piguet that line the iconic heritage listed buildings through London\u2019s more exclusive postcodes. The appetite is there, it might have just been quietly forgotten in recent years. <\/p><p>But now, as US trade collapse, London strengthens. Mayfair and Bond Street boutiques accept more allocations. And this fabled tariff wall, meant to shield American manufacturing, has simply diverted billions of dollars of trade through Britain.<\/p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"933\" src=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-1400x933.jpg\" alt=\"\" class=\"wp-image-535466\" srcset=\"https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-1400x933.jpg 1400w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-960x640.jpg 960w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-640x427.jpg 640w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-768x512.jpg 768w, https:\/\/dmarge.com\/wp-content\/uploads\/2025\/10\/Donald-Trump-UK-Tariffs-Feature-1-480x320.jpg 480w\" sizes=\"auto, (max-width: 480px) 400px, (max-width: 640px) 600px, (max-width: 768px) 700px, (max-width: 1024px) 800px, (min-width: 1025px) 1000px, 2048px\" \/><figcaption class=\"wp-element-caption\">Donald Trump\u2019s 39% Swiss watch tariff has reshaped the global market overnight. Image: Getty<\/figcaption><\/figure><p>The timing couldn\u2019t be better either: <a href=\"https:\/\/dmarge.com\/watches\/luxury-growth-watch-boom\" target=\"_blank\"  rel=\"noreferrer noopener\">LVMH and Richemont have reported their first positive quarters<\/a> in over a year; Chinese consumer demand is returning; and European retail is showing renewed confidence. Against this backdrop, London\u2019s gain looks like a strong foundation upon which to build. <\/p><p>Of course, the United States remains a vital market, but it is no longer the centre of the horological map. The combination of tariffs and currency pressure has handed London an advantage it has not enjoyed in decades. <\/p><p>Trump\u2019s tariffs were designed to protect American industry, but Swiss brands will simply follow the numbers, accelerating Britain\u2019s rise as the world\u2019s largest market for Swiss watches. Geneva builds them. London now sells them. And the luxury market keeps spinning. <\/p>","protected":false},"excerpt":{"rendered":"<p>Donald Trump\u2019s 39% tariff on Swiss watches has backfired spectacularly, collapsing U.S. demand and pushing London to overtake America as the world\u2019s largest luxury watch market.<\/p>\n","protected":false},"author":101107,"featured_media":535462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stopmodifiedupdate":false,"_modified_date":"","footnotes":""},"categories":[249],"tags":[],"coauthors":[146353],"class_list":{"0":"post-535452","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-watches"},"acf":[],"_links":{"self":[{"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/posts\/535452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/users\/101107"}],"replies":[{"embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/comments?post=535452"}],"version-history":[{"count":11,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/posts\/535452\/revisions"}],"predecessor-version":[{"id":535472,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/posts\/535452\/revisions\/535472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/media\/535462"}],"wp:attachment":[{"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/media?parent=535452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/categories?post=535452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/tags?post=535452"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/dmarge.com\/wp-json\/wp\/v2\/coauthors?post=535452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}