Swiss Watches Face Heavy Taxes Amid Rising Trade Deficit, Trump Expresses Anger
Swiss watch products are facing heavy taxes of up to 39% due to a massive trade deficit, significantly impacting sales. This policy has drawn the ire of U.S. President Donald Trump, who is frustrated with the large volume of Swiss watches being exported to the United States. As a small country, Switzerland's market openness is relatively limited, making investment and expansion in the U.S. market especially critical.
Against the backdrop of global market competition, Taiwan, as a key player in the watch industry, may draw valuable lessons from Switzerland's experience, particularly in how to cope with high tax rates and trade deficits.
