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2025-09-15 09:15:19
[Affected by tariffs, jewelry and watch prices soared 5.5% in August] Jewelry and watch prices soared 5.5% in August, far higher than their historical average monthly growth rate of 0.8%. The United States is highly dependent on imports for luxury jewelry and its components, and this category has been subject to a 10% tariff since April. But the rates are already higher. On August 7, the United States raised tariffs on all Swiss imports, including watches, to 39%, far above the baseline. Switzerland supplies more than 90% of precious metal watches imported into the United States. The United States has also imposed tariffs on India, a major supplier of cut and synthetic diamonds, and Japan, which exports high-end mechanical watches to the United States. These additional levies are likely to push up the prices of jewelry and watches in the coming months.
