Swiss luxury brand Breitling slams 39% US tariff as “horrible” for Switzerland

Swiss luxury watchmaker Breitling has strongly criticised a newly imposed 39 % U.S. tariff on Swiss goods, calling the rate “horrible for Switzerland.”

The tariffs were introduced by Donald Trump’s administration and took effect in August. They hit key Swiss exports such as watches, machinery and luxury food. Switzerland’s government said the duties place a “heavy burden” on its economy. 

Breitling’s CEO described the tariffs as “terrible news,” but expressed confidence a deal could still be struck. The company raised global prices by about 4% to offset the U.S. levy, noting that passing on the full 39% surcharge was not feasible. 

Industry data shows Swiss exports to the U.S. slumped as a result. In September alone, watch exports declined by over 50 % in the U.S. market — the highest drop in several years. 

Analysts say the tariffs could shave nearly 0.9 % off Swiss GDP in the next two years if left unresolved. 

Switzerland is now in urgent talks with Washington to seek relief or a reduction. Meanwhile, Swiss firms are exploring other markets and cost strategies to cushion the impact.