Rolex is anticipated to raise prices on Jan. 1st, as first reported by Coronet. U.S.-based authorized Rolex dealers are bracing for another price surge following Jan. 21st, when President-elect Donald J. Trump begins his second term.
The Trump administration has threatened to impose across-the-board tariffs of up to 20% on exports from Europe, a move that risks affecting Rolex significantly in its largest market, just weeks after the brand would have raised prices by 7% on precious metal pieces.
Some luxury companies like LVMH have factories on U.S. soil. But Rolex controls almost every aspect of its production within Switzerland which has required significant investment in infrastructure and workforce. The brand is starting construction on a 1-billion-franc manufacturing facility in Bulle.
While Switzerland is not part of the European Union, the U.S. has historically imposed tariffs on various goods from Switzerland as part of broader trade measures.
Still, some believe the threat of tariffs serves as a starting point for negotiations. Scott Bessent, Trump’s pick for Treasury secretary, believes Trump “is a free trader.” “It’s escalate to de-escalate," he told the Financial Times in an interview in Oct. 2024.