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Back in early April, when President Trump first announced his reciprocal —including a 31 percent levy on Swiss goods—the Swiss watch industry, which had gathered in Geneva for Watches and Wonders, went into a collective state of panic.

“We were like, 31 percent—this completely changes the business and how we’re supposed to operate,” , founder of EsperLuxe, a high-end watch retailer in Boston that specializes in independent watchmakers, tells Robb Report . “If the market survives that kind of pricing.”

During the 90-day pause that followed (with a temporary 10 percent tariff in place), brands, retailers and dealers grappled with how to handle the tari

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