Swiss Watch Exports Plunge on Weak China Demand, US Tariffs (1)

Swiss watch exports tumbled in August as Chinese demand remained weak and stiff US tariffs went into effect.

Exports fell about 17% from a year earlier, the Federation of the Swiss Watch Industry said in a statement Thursday. All main markets saw double-digit declines, with China down 36% and the US — the watch industry’s largest market — falling 24%.

To an extent, the plunge reflected an expected rebalancing following the high level of exports seen in April and July, ahead of anticipated tariffs, according to the statement.

Still, the figures highlight the more difficult conditions for Swiss-based watchmakers controlled ...