Trump Unleashes Massive Tariffs on Swiss Watches, Pharma Firms

A Watches of Switzerland Group Plc store in London.Photographer: Hollie Adams/Bloomberg

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By Eric Pfanner and Katie Linsell

August 1, 2025 at 7:06 AM UTC

Updated on

August 1, 2025 at 11:11 AM UTC

Switzerland’s exporters, from watch makers to pharmaceutical companies, are bracing for the financial fallout from US President Donald Trump’s 39% tariffs, one of the steepest rates globally in his escalating trade war.

The levies slapped on Switzerland are part of a slew of new tariffs unveiled by Trump late Thursday as the US president forges ahead with his effort to reshape international commerce.