Trade

Gold and Watches Boost Swiss Exports to US Before 39% Tariff

Swiss watch brands in Geneva, Switzerland.
Photographer: Andrew Kravchenko/Bloomberg

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By Bastian Benrath-Wright

August 21, 2025 at 6:00 AM UTC

Updated on

August 21, 2025 at 10:54 AM UTC

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Swiss exports to the US inched up in July, helped by gold and watches shipments, the second straight month of expansion before President Donald Trump unexpectedly slapped a 39% tariff on the country.