Fact-check · Oct 7, 2026 · Donald Trump
“If we decided not to buy watches, from Switzerland, it wouldn't be a lead anymore. We would save about $40,000,000,000”
FALSE
What the record shows
US imports of Swiss watches totaled $6.47 billion in 2024 (UN COMTRADE) and approximately $4.35 billion CHF (~$4.7-4.8 billion USD) in 2025, according to Swiss Federation of Watch Industry.
Claimed savings of $40 billion is 6-7 times the actual annual value of Swiss watch imports to the US.
Sources
- United States Imports from Switzerland of Clocks and watches - 2025 Data 2026 Forecast 1991-2024 Historical
- U.S. Imports of Swiss Watches Were 107% Higher in July Than June
- Swiss watch exports by country worldwide 2015-2023
- Watch Import Duty USA: 88% Comes From One Country
- Swiss Watch Exports to the US, August 2026: Tariff Update
- Swiss watch exports in December 2025: The valley of tears seems to have been crossed - INSIGHT INHORGENTA
From: President Trump Makes an Announcement, Oct. 7, 2026
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