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Swiss luxury companies drop after U.S. tariffs announcement

ReutersAug 4, 2025 6:38 AM

Aug 4 (Reuters) - Shares in Swiss luxury companies dropped on Monday, after U.S. President Donald Trump imposed 39% tariffs on the country, with luxury group Richemont CFR.S and watchmaker Swatch UHR.S both seen down 4.9% in pre-market indications.

The luxury sector is among the most exposed to tariffs, with 20% of Swiss watch exports going to the U.S., according to analysts at Vontobel.

The franc CHF=EBS also came under pressure, weakening against the dollar to 0.8071 francs.

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