Rolex and Richemont Executives Confront Trump in Oval Office over Soaring Swiss Import Tariffs

In an unprecedented show of unity, the executives of elite Swiss firms, including the revered watchmakers Rolex and Richemont, convened with Donald Trump in the Oval Office. The assembly, held on November 5, 2025, sought to address the exorbitant tariffs imposed on Swiss merchandise - a stifling 39% levy, the highest placed on any developed nation. This exhibition of Swiss solidarity intended to highlight the debilitating impact of the tariffs on their respected companies, and more broadly, on the Swiss economy.

In attendance were eminent figures like Rolex CEO Jean-Frédéric Dufour and Richemont Chairman Johann Rupert, adding gravitas to this rendezvous. High-profile personalities from commodities trader Mercuria, private equity firm Partners Group, shipping company MSC, and gold refiner MKS PAMP also graced the occasion.

As a direct outcome of the meeting, Trump spurred U.S. Trade Representative Jamieson Greer to schedule immediate follow-up negotiations, thereby providing a glimmer of hope for Swiss businesses. This gathering marks an unusual collaborative effort by the Swiss commercial sector to appeal directly to the U.S. President. Beyond the negotiations, it highlights the gravity of the economic worries invoked by the tariffs and the urgency to address them.