#swiss watch exports 2026

A 10% tariff on Swiss watches entering the United States expires July 24, 2026, and the President cannot extend it. A working dealer's read on the cliff, the Section 301 replacement waiting behind it, what it does to retail prices, and why a watch already sitting in the U.S. sits outside the import math.

Swiss watch exports fell about 4% over the first four months of 2026, and a distorted April print made it look worse. But the average hides a market splitting in two: the top end and the big three of Rolex, AP, and Patek hold firm while the mid-luxury middle contracts. A working dealer's read on the barbell market, why the April number misleads, and where pre-owned value is quietly widening.