In October, Swiss watch exports were again hit by the 39% tariffs imposed by the US, but a proposed agreement between Bern and Washington to cut them to 15% should give watchmakers some much-needed breathing space.

In October, Swiss watch exports to the United States fell by a further 46.8% compared with the same period a year earlier, following a 55.6% drop in September and a 23.9% decline in August, according to data from the watchmaking federation published on Thursday.

In August, Washington imposed 39% tariffs on imports from Switzerland, raising serious concerns for the watch industry, since watches must be made in the country to bear the "Swiss Made" label, widely regarded as a symbol of Swiss watchmaking tradition.

However, after three trips to Washington, Economy Minister Guy Pa

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