Rolex CEO Defends White House Visit: 'We Had to Do It'

They reached for the crown. (Credit: Hodinkee)

Two week after going on a charm offensive at the White House, Rolex CEO Jean-Frédéric Dufour went on a charm offensive with the rest of the world. He spoke publicly on Wednesday in a live-streamed session at Dubai Watch Week, and for many watch collectors and journalists, it was the first time they had ever heard his voice. “We are a very silent brand,” Dufour said. “We love journalists. Even if we don’t talk to you at Rolex, we love you.”

But it was on the sidelines, just moments after his keynote, that Dufour offered a glimpse into his decision to visit President Donald J. Trump. He told a reporter from Hodinkee that the meeting had been a necessary intervention to confront Switzerland’s economic pain, especially in watchmaking. It remains Dufour’s only recorded comment about the visit.

“We had to do it,” Dufour said. The shock 39% tariffs had hit the industry so hard that “people were frozen,” he said in brief remarks.

Dufour didn’t specify whether he meant the country’s leadership or the watch industry specifically when he said people had “frozen” under the tariff shock. But he seemed to view the visit as unavoidable rather than optional; that it was less a diplomatic gesture and more a last-resort effort to break the deadlock and confront a threat to Swiss manufacturing.

Gifted Rolex Clock No Longer on President’s Desk

Resolute, but not permanent. (Credit: The White House)

A Rolex desk clock that drew attention after five Swiss executives — including Rolex CEO Jean-Frédéric Dufour — met with President Donald J. Trump in the Oval Office on Nov. 4 appears to have been removed from the Resolute Desk, according to photographs and video from a press conference on Monday. It was first noticed by Nick Gould on Instagram.

The press conference, live-streamed by the White House on YouTube, focused on the FIFA World Cup 2026 Task Force. The Oval Office was crowded with journalists and photographers, and the President was visible at his desk from multiple camera angles. The Rolex desk clock was nowhere to be seen.

The clock was one of two items from the Swiss delegation and was still visible last Wednesday, when President Trump signed the bill to reopen the government, one full week after it had been gifted by Dufour. It’s unclear why the clock has suddenly been removed, while the engraved gold bar from the delegation is still there.

(Credit: The White House)

In Tariff Talks, Rolex Finds New Publicity

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.

On the Resolute Desk, a New Clock That Looks a Lot Like a Rolex

Oyster in Chief. (Photo credit: The White House)

Since the visit of Rolex CEO Jean-Frédéric Dufour and four other Swiss executives to the Oval Office last Tuesday, a new object has surfaced on the Resolute Desk. Rumors from Switzerland have suggested that President Donald J. Trump received a Rolex from the Swiss delegation along with gold bars, but no one could say which model it was.

Now, a new object, first spotted by Watches of Espionage on Instagram, seems to confirm the rumor. Recent White House photos show a gold desk clock with a green dial and a fluted bezel reminiscent of a Rolex Datejust on the president’s desk. A Cyclops-style magnifier over the date window reinforces the resemblance.

Little is known about the Datejust-like desk clock, which is unavailable at retailers and does not appear on Rolex’s official website. It might even be a unique piece made for the U.S. president. Still, its design matches a model Rolex recently introduced: the Submariner Desk Clock ref. 909010LN, which is powered by the analog-digital quartz Caliber 8335 featuring a rare secular calendar that remains accurate until 2400. The seconds hand moves more smoothly than a standard quartz movement.

Whether the clock was a personal gift from Rolex to President Trump remains unconfirmed, but its presence marks a notable moment in the brand’s history. Rolex watches have adorned presidential wrists before, yet never has a Rolex clock sat in plain view on the Resolute Desk.

Jean-Frédéric Dufour in D.C.: An Analysis

A Swiss movement. (Photo credit: The White House)

It's been since 1977 that a Rolex CEO set foot in the White House, when André Heiniger joined a delegation of European business leaders organized by Time magazine. Nearly half a century later, the head of a brand known for staying out of politics is again in the Oval Office, alongside a handful of Swiss executives, a sign of the gravity facing the Helvetic country.

Still, Dufour has remained cool-headed, showing restraint and appearing to be playing the long game even amid the urgency of the moment. When he met Trump face to face at the U.S. Open in September, a feat not even the Swiss government had managed, he kept the exchange personal rather than political and did not mention tariffs.

Now, in Washington, even as a steep 39-percent tariff looms over Switzerland, the CEO of the world’s most important watch brand said he avoided “direct negotiation.” The goal, according to a joint statement later released by the businessmen, was to show “support for the ongoing dialogue” between the two countries “in a constructive spirit.” In a photo first published by Hodinkee, Dufour, whose roots lie in the city most associated with diplomacy, is seen seated front and center, directly facing Trump.

Yet, his approach, according to those who’ve known him, is never confrontational, a sharp contrast to Trump's style. Where the U.S. president is known for impulsiveness and showmanship, Dufour has shown discretion and restraint. Perhaps it’s because he knows his industry has survived countless crises over the centuries — and will surely survive this one.

Trump Meets With Rolex Chief Jean-Frédéric Dufour in Washington

Time for diplomacy. (Photo credit: WHHA)

Rolex CEO Jean-Frédéric Dufour traveled to Washington, D.C., earlier this week for a meeting with President Donald J. Trump, joined by a small group of Swiss business leaders.

The meeting was not publicly disclosed. On Tuesday evening, Trump posted on social media that it had been his “Great Honor to just meet with high level Representatives of Switzerland.” He was joined by his son Eric and daughter-in-law Lara, neither of whom holds a government position.

According to people familiar with the meeting, who spoke on condition of anonymity, Johann Rupert, chairman of Richemont, was also present, along with Daniel Jaeggi, co-founder of energy trader Mercuria, and Alfred Gantner, co-founder of Partners Group.

The Swiss government confirmed it had been informed of the visit and said it provided support during preparations, but noted that the discussions took place “independently of the Federal Council’s involvement in this matter.”

In Letter to Senator, Rolex Says No Tariff Talks With Trump

(From: X.com/@SenWarren)

U.S. Senator Elizabeth Warren on Friday released Rolex CEO Jean-Frédéric Dufour’s response to her inquiry. The letter, dated Sept. 25, offers for the first time a glimpse into Dufour’s meeting with President Donald J. Trump.

In the two-page response, Dufour wrote that while Rolex was under no obligation to answer congressional inquiries of this nature, it chose to do so as a matter of transparency and courtesy.

Dufour said Rolex, a longtime sponsor of the US Open, extends such invitations in the spirit of sportsmanship and international friendship, irrespective of political lines. He also rejected speculation that Rolex sought to curry favor, noting that no “substantive discussions” were held regarding “tariffs, trade policy, or any other official matter,” which he said are handled solely by Swiss authorities.

"Rolex is not, nor has it ever been, engaged in any negotiation with the U.S. government regarding tariffs. Such matters fall exclusively within the purview of the Swiss authorities and their American counterparts," Dufour wrote. "Rolex's experience of the recently enacted tariffs is identical to that of any other Swiss manufacturer that is not exempted. As a company, we naturally hope, along with our fellow Swiss exporters, for a resolution that is reasonable and fair."

More Coronet coverage:

U.S. Senator Presses Rolex CEO Over Trump Invitation
At Trump Meeting, Rolex Had More than Its Watches at Stake
Rolex’s Meeting With Trump Still Shrouded in Silence
Acting Alone, Dufour Risked Rolex’s Image in a Bid for Access

U.S. Senator Presses Rolex CEO Over Trump Invitation

(From warren.senate.gov)

More than two weeks after Rolex chief executive Jean-Frédéric Dufour appeared alongside President Donald J. Trump at the US Open, no details have emerged on what was discussed between the two leaders. That may soon change.

U.S. Senator Elizabeth Warren is pressing Rolex for answers about whether the encounter was tied to efforts to ease the new 39-percent tariff on Swiss watches.

In a letter to Dufour sent Wednesday, Warren demanded clarity by Oct. 8 on why Trump was invited to the US Open, what communications took place with his administration before, during and after the event, how much Rolex expects to pay if no exemption is granted and how that would impact profits.

“Given the President’s record of doling out special treatment to CEOs who are able to woo him with flattery, payoffs, or both, the timing of his attendance at the match in the Rolex box is concerning,” the Senator wrote. “I have questions about whether you are attempting to curry favor with the President in an effort to secure special-interest exemptions for Rolex products.”

The meeting was unusual for Rolex, whose reputation depends on staying above politics. Yet Dufour managed to get closer to Trump than the Swiss delegations had in weeks.

At Trump Meeting, Rolex Had More than Its Watches at Stake

Trump and Dufour. (Photo credit: Cristobal Ulashkevich)

Last week’s meeting between Rolex CEO Jean-Frédéric Dufour and President Donald J. Trump at the US Open was a calculated gamble, a reputational risk for a brand that guards its image closely. In Coronet’s view, it stands as the biggest Rolex story since Watches and Wonders, with a Rolex CEO smiling alongside a polarizing president.

For Dufour, a concern looms larger than Rolex’s own watches. The brand owns Bucherer, including Tourneau in the U.S., a network of more than 30 luxury watch stores. Unlike Rolex, which always sells, these retailers also rely on other Swiss brands, and that’s where a 39% tariff would hit hardest.

Bucherer boutique in Las Vegas. (Photo credit: Bucherer)

Rolex is in a unique spot. Its own demand is strong enough to absorb the tariff and offset it worldwide. But its retail network acquired just two years ago depends on the wider Swiss industry. That’s why the Trump meeting mattered for Dufour, whose concern was how punitive tariffs could ripple through Bucherer’s U.S. retail arm.

For Rolex, the fight over tariffs was less about its own watches, which remain waitlisted across the globe, and more about protecting its growing retail business, which carries brands far harder to sell than a Daytona or Submariner.

Rolex’s Meeting With Trump Still Shrouded in Silence

(Photo credit: Corey Sipkin/UPI)

Five days after Rolex chief executive Jean-Frédéric Dufour appeared alongside President Donald J. Trump, no details have emerged on what was discussed between the two leaders.

Though Rolex has always been discreet, such complete airtight silence is rare for the brand, which is used to seeing its new models leaked before they are announced. Yet this time, one of the most important Rolex stories of 2025 remains a mystery.

The meeting was unusual for Rolex, a brand that rarely strays into political territory. To be sure, it’s not the first time a Rolex executive has met with a U.S. president. Still, what makes this story unique is that it involved a polarizing political figure whose presence carries risks for a brand that guards its reputation closely.

Rolex may not want to publicize the encounter. Le Temps, a major Swiss daily funded by the Hans Wilsdorf Foundation, made no mention of the meeting in print or online, even as it reported Trump’s attendance at the US Open. Incredibly, five days on, no one knows what the two men discussed, or if tariffs were even mentioned.

Acting Alone, Dufour Risked Rolex’s Image in a Bid for Access

(Photo credit: Jake’s Rolex World)

When Rolex CEO Jean-Frédéric Dufour appeared next to President Donald J. Trump last Sunday, the image startled even the Swiss. Rolex, it seemed, had acted alone.

Rolex did not coordinate with the Swiss government, and Bern did not ask Dufour to lobby on its behalf or to use the US Open as a platform for talks, according to a report from the Neue Zürcher Zeitung.

Still, Dufour managed to get closer to Trump than the Swiss had in weeks. Just days earlier, Economics Minister Guy Parmelin led a delegation to Washington but left without a meeting with the president, settling instead for talks with senior cabinet officials.

At the US Open, Dufour knew the risk. Standing with a polarizing president could jeopardize one of Rolex’s most valuable assets: its image, cultivated over years through programs like the Perpetual Planet Initiative and Testimonees such as environmental activist Leonardo DiCaprio whose ideals stand in contrast to Trump’s policies.

Yet, of all Swiss watchmakers, Rolex is best positioned to absorb the 39% tariffs, thanks to still enormous U.S. demand and eager buyers in the Middle East and Asia. That is not the case for mid-sized and smaller brands, which face far tougher odds. Dufour chose to take the gamble, seizing a rare chance to meet with Trump and perhaps shift the status quo.