Swiss Watch Sellers STRUGGLE Under Crushing 39% U.S. Tariff

Ver Swiss Watch Sellers STRUGGLE Under Crushing 39% U.S. Tariff - Diario As en Dailymotion

Transcript

00:00It was very surprising if not to say shocking because I thought the

00:29Swiss Federal Council was in touch with the American administration to find a settlement

00:42like the UK did I think they have agreed on a 10% flat fee.

00:49The European Union now have 15% and now in April they had announced this 31%.

00:57Now we are at 39 so it's very hard to digest such news obviously.

01:04This is getting out of hand a little bit.

01:11I suspect we are currently in the vacances horlogères you know the watchmaking holidays.

01:18Manufacturers are closed and I suspect the minute they open.

01:24There won't be any goods being shipped to the US until the situation clears.

01:31Because as much as the American market is I mean it's a huge market for the Swiss industry.

01:38I don't think brands can absorb 39%.

01:45I don't think brands can absorb 39%.

02:00We'll be right here.

02:27It's Mr. Trump's tactic to put pressure on the Swiss government.

02:34And once, if that doesn't work, it might even increase.

02:40But I guess the message has been passed and they are not in a very, very good position,

02:47obviously, now to negotiate, but they will have to make concessions.

02:51And I'm sure now for the next week they're going to be priority number one.

02:57I'll see you next week.