Ticking in Rolex’s favor. (Photo credit: Rolex)
When Rolex CEO Jean-Frédéric Dufour appeared smiling next to President Donald J. Trump at the U.S. Open in September, the image startled even the Swiss. Now, Rolex’s months-long charm offensive, capped by last week’s White House visit, appears to be paying off with a public-relations win.
Among the Swiss executives who met with Trump, Rolex was the most recognizable brand, and its newly gifted desk clock quickly drew attention. Hodinkee published excerpts from Dufour’s accompanying letter describing the clock as “a gift to the people of the United States.” The language was likely intentional given Swiss criminal law’s strict ban on “bribery of foreign public officials.”
If the tariff is ultimately reduced from 39% to 15%, as is now expected, it would mark a publicity coup for Rolex in a country whose largest single export market is the United States. President Karin Keller-Sutter of Switzerland and Economics Minister Guy Parmelin have not succeeded in speaking to Trump in person. Trump, addressing the negotiations on Tuesday, said that “Rolex has been very nice,” a sign of how much the brand has figured in the administration’s interest in lowering tariffs.
The reduction would come at a time when Rolex is preparing its 2026 price list, and an increase in prices is all but inevitable given gold’s rise, which is up 41% since Rolex last adjusted its prices, on Jan. 1, 2025. The franc is also up about 13% against the dollar this year. Several watch brands, including Patek Philippe, have already raised U.S. prices in response to the 39% tariffs, but Rolex has held back.