Swiss watch exports continued to decline in October, with exports to the US plummeting by nearly 50%.

Due to the continued drag of Trump's tariffs, Swiss watch exports have declined for the third consecutive month. Data released by the Federation of the Swiss Watch Industry on Thursday showed that in October, watch exports fell by 4.4% to 2.2 billion Swiss francs compared to the same period last year. Exports to the largest market, the United States, plummeted by 47%; while exports to the Chinese market increased for the second consecutive month by 13%. Last week, the US announced a reduction in tariffs to 15%, bringing a glimmer of hope to the industry, although the specific effective date of the new tariff rate is still unclear. According to the data from the Watch Federation, prices of lower-priced watches increased in October, but prices of higher-priced watches decreased by 7%, partially offsetting the impact of the price increase.