Keeping Time S9, E6: Tariff Impact on the Swiss Watch Industry

This episode is a little different. We are addressing the situation in the Swiss watch industry with a focus on an explanation of the tariffs imposed this year. The implications for global trade are quite huge with few countries affected as greatly as Switzerland. Despite a population of approximately 9 million, Switzerland is one of the most important investors into the US economy; from pharmaceuticals to chocolate production and financial services. Yet huge tariffs were directed at Switzerland which affects their export market. One of Switzerland's most famous and most desirable exports is of course luxury watchmaking. This is the reason you all listen to Keeping Time.  Today we are going to discuss in-depth the impact of the tariffs on the US watch market; how it impacts retailers, manufacturers, distributors (and agents) and of course the end-users who purchase these objects of mechanical beauty. We delve into the mechanics of how the tariffs actually work from an import perspective. We then welcome a couple of friends of the podcast who bring different perspectives to the conversation.  Michael Margolis initially joins us to discuss the US impact from the perspective of a US importing agent as well as how it can impact a consumer who decides to purchase in Europe or abroad. Later we are joined by Scott Rosen who discusses the impact of the USA tariffs in the Swiss industry from the perspective of the Swiss.  This in-depth conversation should be insightful for all watch collectors/enthusiasts alike and also those in the industry. Of course, everything today is a moving target so as changes occur the information presented on this episode may be outdated quickly. However, at this time, this is an invaluable conversation with real insight into the current situation created by the price of gold, exchange rate and tariffs. Thank you for downloading, sharing and enjoying Keeping Time with Oster Watches podcast. You are the reason that we do what we do. Visit our blog page for the list of podcasts and photos relating to topics discussed in selected episodes. https://blog.osterjewelers.com/category/podcast/