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The panic set in immediately. In early April, after President Trump announced crippling tariffs on nearly every country in the world , the global watch industry was suddenly faced with a 31% levy on American imports from Switzerland—the primary source for new luxury watches—and similarly high taxes on countries like Japan, from which dealers source a great deal of vintage pieces. At long last, Trump proved it was possible for an American to cause more chaos in Switzerland than I do every year during Watches and Wonders.

In the days between Trump announcing the tariffs and subsequently putting them on a 90-day pause, figures in the watch industry sprung into action.

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