U.S.–Switzerland Near Tariff Deal: 39% Duties Could Drop to 15% as Trump Confirms Talks; Swiss Watch Stocks Rally (Nov. 11, 2025)
President Trump said the U.S. is negotiating with Switzerland to reduce the 39% tariff imposed in August. Bloomberg reports a revised rate near 15% could be agreed within two weeks, though talks are ongoing. Swatch Group shares rose about 4% and Richemont gained 2% on the news. The 39% tariff has applied to most Swiss exports since August 7.
