Tariffs and the Watch Industry: How the US-China Trade War Impacts US-Based Watch Companies
The current trade war between the United States and China has been characterized by increasing tariffs since March 2018. Commercial goods were not initially a tariff target, with Chinese made aircraft parts, medical devices, and satellites bearing the initial brunt of the trade war. In a tit-for-tat back and forth that has lasted more than one year, products of all kinds now carry tariffs upon import from China, and consumer anxiety over the impact of the trade war on day-to-day purchases has become more severe.
The worldwide watch industry has thus far been largely unaffected by the growing trade war, and Reginald Brack, the Watch Industry Analyst for the NPD Group, doesn?t see that changing. ?The proposed tariffs on Chinese imports should have minimal impact in the short term, and not much of a ripple effect on the Swiss watch industry.?
Reginald Brack, Watch Industry Analyst for the NPD Group.
But the Swiss watch industry is only one part of a much larger story. China is a major player in the global watch industry, and is currently the world?s largest manufacturer and exporter of watches. Many of China?s watch exports are produced for large fashion brands. However, China is also a go-to resource for smaller enthusiast-focused brands based in the United States, who have employed Chinese manufacturing and supply over the last several years, some with great success. These largely independent watchmaking firms have varying degrees of exposure to the current trade war.
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