Accepting use of Rolex's suite is noteworthy because it comes weeks after the Trump administration imposed a 39% tariff on Swiss products. That's more than 2 1/2 times higher than the one on European Union goods exported to the U.S. and nearly four times higher than on British exports to the U.S. - which has raised questions about Switzerland's ability to compete with the 27-member bloc that it neighbors.
While the precise effect of US tariffs on retail sales remains unknown, we expect higher retail costs will continue to push consumers toward the secondary market and have an uplifting effect on prices.