Editor’s pick — Accessory quick take: key highlight (movement/specs for watches, materials/finish, limited run, pricing tier) in 1–2 lines.
Swiss business leaders, including the Chief Executive of Rolex, the Chairman of Richemont, and the co-founder of the private equity firm that controls Breitling, met with U.S. President Donald Trump in Washington this week to pledge support for ongoing trade talks between the two countries. The Swiss executive group, including Rolex CEO Jean-Frédéric Dufour, said they met with the President at their own initiative to underscore the longstanding economic ties between Switzerland and the U.S.
“While we gave our support to the ongoing negotiations between our two governments, we did not participate in any negotiations with the U.S. President. We expressed our belief that a bilateral trade agreement would further enhance economic collaboration in a manner beneficial to Switzerland and the United States,” the private Swiss business group said in a joint statement.
From left, Johann Rupert, Alfred Gantner, Marwan Shakarchi, of MKS PAMP, Jean-Frédéric Dufour and Daniel Jaeggi.
Swiss exporters, including watchmakers, have been hit hard by 39% U.S. tariffs imposed on imported Swiss goods on August 1st. The tariffs are among the highest leveled against any Western nation and compare to levies of 15% for the European Union and Japan.
The tariffs have disrupted the watch industry, prompting watchmakers to send massive shipments to U.S. retailers to avoid higher import duties before they came into effect. Several top brands, including Patek Philippe, raised prices for U.S. customers to offset the costs of tariffs, as well as the strong franc and record gold prices.
President Trump was a guest at the Rolex suite at the U.S. Open final in September. Photo Credit Getty Images
The meeting suggests a potential thawing of the icy trade relations between Switzerland and the U.S. as government officials seek to negotiate a bilateral agreement to lower tariff rates to more manageable levels. The Swiss business leaders, which also included Richemont Chairman Johann Rupert, said the Oval Office meeting aimed to underscore the strong economic ties between Switzerland and the U.S. and that the “discussions highlighted the strength of the private sector relationships that are a cornerstone of our bilateral cooperation and mutual prosperity.”
The executive group represented some of the biggest names in Swiss watchmaking including Rolex, Cartier and Breitling. Other business leaders attending the meeting included Alfred Gantner, the billionaire Swiss co-founder of Partners Group, the private equity firm that controls the Swiss brand Breitling. Daniel Jaeggi, a co-founder of Swiss commodities trading firm Mercuria, as well as Diego Aponte, the head of Geneva-based cruise ship and container ship operator MSC, and Marwan Shakarchi, of Swiss gold refiner MKS PAMP also attended the White House meeting. The private Swiss business delegation said the content of the discussions was shared with the Swiss Federal Council and the State Secretariat for Economic Affairs.
“We will remain engaged in a supportive role and we fully back the efforts of the Swiss government to find a path that strengthens Switzerland and makes us even more united as a people and a country,” the business leaders said in the statement.
Source: www.hodinkee.com — original article published 2025-11-05 20:41:00.
Read the full story on www.hodinkee.com → [source_url]
