Swiss watchmakers turn US tariffs into timepieces

ZURICH: Time is money for Swiss watchmakers -- some are cashing in on US President Donald Trump's massive tariff on goods from Switzerland with limited-edition watches featuring the 39-percent duty on their dials.
Swatch launched on Wednesday a model that reverses the position of 3 and 9 on the dial, a reference to the tariff rate Trump has imposed since August 1.

"Hopefully, just a limited edition," the company's website says under a picture of the watch, which is available only in Switzerland.


A Swatch spokesman called the offer "a positive provocation, a nod to the current situation."

"As soon as the United States changes its customs duties on Switzerland, we will immediately stop selling this watch," he added.

The watch is already listed as being temporarily out of stock on the firm's website, and the spokesman said Swatch hopes the offer "won't last long, in fact as short as possible".

Luxury watchmaker Raymond Weil also announced a limited-edition version of one of its classic models with the "39%" figure on the dial.

It has produced just 39 watches, which have already sold out.

"In Swiss watchmaking, adversity doesn't stop the hands of time," said Raymond Weil, adding that it believes "challenges are best faced with creativity".

The company said it wanted to react to the complicated situation with humour "by saying that instead of adding 39 percent to the price, we're going to lower by 39 percent," chief executive Elie Bernheim told AFP.

The 39 percent tariff rate will hit Swiss watchmakers hard as the United States was their top export market last year.