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Swiss Watch Industry Grapples with New US Tariffs

Swiss Watch Industry Grapples with New US Tariffs

Swiss Watch Industry Grapples with New US Tariffs The Swiss watch industry is facing a significant challenge as new tariffs imposed by the US administration, led by President Trump, came into effect this week. Despite last-minute diplomatic efforts by Swiss leader Karin Keller-Sutter, a 39 percent levy is now applied to all Swiss watch exports, including luxury brands like Rolex, Omega, and Patek Philippe, entering the United States. This development is poised to severely impact Swiss watchmakers, as the US…

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Swiss Luxury Watch Industry Braces for Catastrophic Job Cuts as US Tariff Deadline Looms

Swiss Luxury Watch Industry Braces for Catastrophic Job Cuts as US Tariff Deadline Looms

Swiss Luxury Watch Industry Braces for Catastrophic Job Cuts as US Tariff Deadline Looms The luxury Swiss watch industry is currently grappling with the severe repercussions of heavy U.S. tariffs, with industry leaders expressing dire warnings ahead of a critical September deadline. Geneva-based K2 Luxury, a prominent dealer of high-end pre-owned Swiss watches, has already halted shipments to U.S. clients, anticipating “catastrophic” consequences for exporting brands if a favorable deal isn’t secured. Shahzaib Khan of K2 Luxury predicts a potential…

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Global Alarm as US Tariffs Soar to Near-Century High; Trump-Putin Meeting on Horizon

Global Alarm as US Tariffs Soar to Near-Century High; Trump-Putin Meeting on Horizon

Global Alarm as US Tariffs Soar to Near-Century High; Trump-Putin Meeting on Horizon Governments worldwide are scrambling to implement contingency plans following the implementation of significant US tariffs, which took effect shortly after midnight Washington time on Thursday. This move has pushed US tariff levels to their highest point in nearly a century, sparking international concern. Brazil has announced intentions for a state aid program to support companies impacted by the new duties, with President Luiz Inácio Lula da Silva…

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Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React

Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React

Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React More than 60 countries worldwide are urgently responding to the latest wave of US tariffs, which came into force on Thursday following an announcement by President Donald Trump. These sweeping duties, ranging from 10% to 41%, are upending a decades-old global trading system, with industry representatives warning of significant job losses across both developed and developing economies. Leaders globally are scrambling to implement contingencies as Trump’s tariff threats became…

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Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns

Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns

Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns President Donald Trump’s protectionist trade agenda is rapidly reshaping the global economic landscape, with the United States recently securing significant framework agreements with the European Union and Japan. These deals see major trading partners accepting 15% U.S. tariffs on most goods, fulfilling Trump’s long-held belief in protectionism and aiming to boost American economic interests. The EU agreement, announced Sunday, includes commitments for the bloc to purchase $750 billion in U.S….

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Breaking: Trump Brokers Ceasefire Talks Amidst Escalating Thailand-Cambodia Border Conflict

Breaking: Trump Brokers Ceasefire Talks Amidst Escalating Thailand-Cambodia Border Conflict

Breaking: Trump Brokers Ceasefire Talks Amidst Escalating Thailand-Cambodia Border Conflict US President Donald Trump has announced that Thailand and Cambodia have agreed to immediate ceasefire talks, following a recent escalation of border clashes that have claimed at least 33 lives and displaced thousands since fighting erupted on July 24. Trump revealed his intervention on Saturday, stating on Truth Social that both nations would “immediately meet and quickly work out a Ceasefire and, ultimately, PEACE!” The announcement comes just days before…

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US Automakers Voice Concerns Over Trump’s Japan Tariff Deal

US Automakers Voice Concerns Over Trump’s Japan Tariff Deal

US Automakers Voice Concerns Over Trump’s Japan Tariff Deal U.S. automakers are expressing significant apprehension regarding a recent agreement by then-President Donald Trump to impose a 15% tariff on Japanese vehicles. They argue that this deal places them at a competitive disadvantage, citing steeper import taxes they face on steel, aluminum, and parts compared to their international counterparts. Matt Blunt, president of the American Automotive Policy Council, representing major U.S. automakers General Motors, Ford, and Stellantis, stated that the deal…

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Dow Drops Amid Inflation Fears, Mixed Bank Earnings; Nvidia Lifts Nasdaq

Dow Drops Amid Inflation Fears, Mixed Bank Earnings; Nvidia Lifts Nasdaq

Dow Drops Amid Inflation Fears, Mixed Bank Earnings; Nvidia Lifts Nasdaq U.S. markets saw mixed performance on Tuesday, July 15, as the Dow Jones Industrial Average fell over 300 points, driven by inflation concerns and a mixed bag of corporate earnings. Meanwhile, the Nasdaq Composite gained ground, significantly boosted by a surge in Nvidia shares. The 30-stock Dow lost 0.5%, while the Nasdaq jumped 0.5% after chipmaker Nvidia announced plans to ‘soon’ resume H20 GPU sales to China, sending its…

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Market Jitters: Dow Futures Dive After Trump Announces 30% Tariffs on EU, Mexico

Market Jitters: Dow Futures Dive After Trump Announces 30% Tariffs on EU, Mexico

Market Jitters: Dow Futures Dive After Trump Announces 30% Tariffs on EU, Mexico U.S. equity futures experienced a sharp decline on Sunday evening, signaling a nervous start to the week for Wall Street as investors grapple with renewed tariff threats. Futures for the Dow Jones Industrial Average dropped 183 points (0.4%), while S&P 500 futures fell 0.4% and Nasdaq 100 futures slid 0.5%. The downturn follows President Donald Trump’s declaration on Saturday that the U.S. will impose a substantial 30%…

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US Manufacturers Sound Alarm: Urgent Call for Tariff Clarity as Copper Stockpiles Near Depletion

US Manufacturers Sound Alarm: Urgent Call for Tariff Clarity as Copper Stockpiles Near Depletion

US Manufacturers Sound Alarm: Urgent Call for Tariff Clarity as Copper Stockpiles Near Depletion Leading US manufacturers are issuing an urgent appeal to the government for immediate clarity on tariff policies, warning that critical copper stockpiles are rapidly dwindling. The industry emphasizes that prolonged uncertainty over import duties is severely disrupting supply chains and threatening production, potentially leading to significant economic repercussions. The plea highlights growing concerns within the manufacturing sector, which relies heavily on copper for a wide range…

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Breaking: Trump Administration Imposes New Tariffs on Japan, South Korea Amid Economic Slowdown Fears

Breaking: Trump Administration Imposes New Tariffs on Japan, South Korea Amid Economic Slowdown Fears

Breaking: Trump Administration Imposes New Tariffs on Japan, South Korea Amid Economic Slowdown Fears The Trump administration announced new 25% tariffs on imports from Japan and South Korea on Monday, July 7, 2025, set to take effect on August 1st. The move, revealed during a White House press briefing, targets two of America’s closest Asian allies already grappling with existing duties and economic headwinds. These additional tariffs are expected to deepen economic woes for the export-dependent nations. Japan, already facing…

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U.S. Tariffs Delayed to August 1 Amidst Widespread Confusion

U.S. Tariffs Delayed to August 1 Amidst Widespread Confusion

U.S. Tariffs Delayed to August 1 Amidst Widespread Confusion The Trump administration today announced a critical delay in new tariffs, pushing their implementation to August 1. The decision, confirmed by President Trump and the U.S. Commerce Secretary, has triggered significant confusion among trade partners and analysts. The administration plans to begin sending formal letters detailing the revised tariff rates to affected nations, a move coming just ahead of the original 90-day deadline set for trade negotiations. This unexpected shift raises…

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US Tariffs Poised to Revert to Steep April Levels by August 1, Treasury Confirms

US Tariffs Poised to Revert to Steep April Levels by August 1, Treasury Confirms

US Tariffs Poised to Revert to Steep April Levels by August 1, Treasury Confirms WASHINGTON — The United States is set to re-impose steep country-by-country tariff rates starting August 1, Treasury Secretary Scott Bessent announced Sunday. This move signals an end to a temporary pause in tariff rates and aims to accelerate trade deal negotiations. Speaking on CNN’s “State of the Union,” Bessent stated, “President Trump’s going to be sending letters to some of our trading partners saying that if…

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