Trump Attends US Open with Rolex CEO Shortly After Swiss Watch Tariff Announcement
President Donald Trump appeared at the 2025 US Open men’s singles final on September 7 in New York City, seated in a midcourt box managed by Rolex, the Swiss luxury watchmaker. He was accompanied by Rolex CEO Jean-Frederic Dufour, family members, and senior White House officials including Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt.
The visit comes just weeks after the administration imposed a 39% tariff on Swiss watch imports, a move that significantly exceeds tariffs levied on other European countries following recent US trade agreements with the EU and UK. The tariff is expected to severely impact Swiss watchmakers, including Rolex, whose headquarters are in Geneva.
Rolex extended the invitation to Trump, according to sources cited by The Associated Press. Neither Rolex nor the White House responded to CNBC’s requests for comment on the event or the invitation.
Market and Industry Implications of Tariffs
Bernstein analyst Luca Solca noted in a client report last month that hopes for a last-minute resolution to avoid the tariffs did not materialize. The 39% levy is nearly double previous expectations for Swiss watch imports, likely compelling manufacturers to raise retail prices.
However, Solca observed that Swiss watchmakers experienced a surge in shipments ahead of the tariff’s enforcement, which could temporarily cushion price increases for up to six months. Despite this, the long-term outlook remains challenging for the industry.
Trump’s Corporate Engagement and Event Context
This US Open appearance marks President Trump’s first attendance at the tournament since 2015. His presence alongside Rolex’s CEO signals ongoing efforts to maintain relationships with major corporations following his return to office earlier this year. Recently, Trump hosted several leading technology CEOs at the White House, underscoring his focus on corporate engagement.
Rolex, founded in 1905, is a private company and a prominent US Open sponsor. Tickets for the men’s singles final start at approximately $800, with premium seating costing several thousand dollars.
FinOracleAI — Market View
The imposition of a 39% tariff on Swiss watch imports presents a negative short-term outlook for Swiss luxury watchmakers, including Rolex, as higher costs are likely to pressure margins and retail prices. The pre-tariff surge in shipments offers only a temporary buffer, lasting around six months. Market participants should monitor potential price adjustments, consumer demand shifts, and any diplomatic developments that could affect tariff policies.
Impact: negative
