US Tariff Cut Boosts Swiss Watch Industry

Swiss Watch Industry Breathes Sigh of Relief as US Cuts Tariffs: A Tale of Tariffs, Trade, and ResilienceThe Swiss watch industry, once gripped by fear due to the USs thirty-nine percent tariff, finds solace in the recent reduction to fifteen percent. This cut, though not a full recovery, is a significant boost for the industry, which had seen a pandemic boom followed by a slump. Companies like Grovana, who had to renegotiate prices and furlough workers, now see a glimmer of hope. However, challenges persist, including low demand from China and Hong Kong, and the industry remains cautiously optimistic.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.