Swiss Watch Tariff Update: Price Reductions Expected?

For the last several months, U.S. collectors have been navigating one of the most volatile pricing environments the Swiss watch industry has ever seen. The 39% tariff imposed on all Swiss imports in August 2025 sent shockwaves through the market, pushing brands, dealers, and buyers into uncharted territory. Now, with a new trade agreement reducing that rate to 15%, the landscape is shifting once again.

Here is what the newest tariff adjustment means for serious watch collectors, investors, and anyone considering a Rolex, Audemars Piguet, Patek, or similar luxury timepiece.

From 39% Down to 15%: A Dramatic Course Correction

When the United States raised tariffs on Swiss imports to 39%, it instantly became one of the highest import penalties imposed on any developed nation. The result was predictable: prices climbed, demand plunged, and the structure of the global watch market temporarily rearranged itself.

As of November 14, 2025, that rate has been reduced to 15%, aligning with the European Union. While this is a significant relief for buyers and retailers alike, it is still well above the pre 2025 standard, which hovered near 0% to 2.5%. In other words, prices may ease; however they will not return to earlier levels.

How Retail Prices Adjusted Initially

Analysts estimated that a full pass-through of the 39% tariff would lead to price increases of roughly 12% to 14%. A $10,000 reference that cost five figures in July could easily cross $11,200 or more. Major brands such as Rolex, Audemars Piguet, and Patek Philippe have responded by adjusting prices throughout 2025, often in anticipation of the tariff’s impact rather than in direct reaction to it.

With the new 15% rate, prices are expected to stabilize, but not retreat. Most brand-level adjustments are already baked in.

Market Collapse: 56% Drop in US Demand

The most startling change came from overseas. Swiss exports to the U.S. fell 56% immediately after the tariff took effect. This was the sharpest decline in modern Swiss watchmaking history. For the first time ever, the United Kingdom overtook the United States as the world’s largest market for luxury Swiss watches.

This shift underscores how sensitive the industry is to cross-border pricing pressure, and why the revised tariff was so important to secure.

Why the Pre-Owned Market Surged

One of the least discussed but most meaningful outcomes has been the surge in demand for pre-owned Swiss watches. The tariff only applies to pieces imported after August 7, 2025, meaning existing inventory held by U.S. dealers became especially attractive.

Buyers who did not want to absorb the higher retail pricing turned to trusted resellers which created a strong tailwind for the secondary market. For collectors, this has been a rare moment where pre-owned offered not only better value, but better access.

The Bigger Picture Behind the Deal

As part of the trade agreement, Swiss companies committed to investing more than $200 billion into the U.S. economy, with $67 billion scheduled for 2026 alone. These commitments were instrumental in bringing the tariff down to 15%, and they signal a long-term interest in preserving the strength of the U.S. luxury goods market.

What This Means for Buyers Today

For collectors evaluating their next acquisition, the takeaway is simple: prices are no longer spiraling upward, but the era of ultra-low import costs is behind us. Pre-owned inventory, especially pieces secured before August, remains one of the smartest ways to access top-tier watches without absorbing the full weight of the new tariff structure.