Swiss watch industry left in lurch by Trump tariffsbr br In Le Locle, the town known as the center of Swiss watchmaking, the imposition of 39-percent US tariffs on exports from the Alpine nation has triggered a wave of uncertainty. On Aug. 7, 2025, the Swiss government said it would pursue further talks with the US after being blindsided by President Donald Trump's announcement last week that Switzerland would be hit by one of the highest tariff rates levied on dozens of economies.