While officials in Bern remain largely mum on talks with the US government on a possible cut to Switzerland's steep tariff rate, stocks for Swiss watchmakers surged on Tuesday after President Donald Trump signalled a deal could be on the horizon.
Swatch, which has the highest US exposure because so much of its output is entirely Swiss-made, jumped by about 4.2%, while Richemont — makers of the Piaget watches Trump has often sported — gained roughly 2% on hopes the tariff reset will ease price pressure on US retailers and boost orders ahead of the holidays.
