Swiss Army Knife maker tries new tools to blunt Trump tariff blow [Yahoo! Finance]
SWATCH GROUP AG UNSP/ADR (SWGAY)
NASDAQ:AMEX Investor Relations:
swatchgroup.com/investor_relations/financial_announcements/latest_financial_announcements
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Source: Yahoo! Finance
exploring new markets, as it experiments with new tools to navigate President Donald Trump's trade tariffs. Popularised in the United States by soldiers who were based in Europe after World War Two, the distinctive red-and-silver multi-tool is made at a factory in Ibach, central Switzerland. There, rolls of stainless steel are punched into blades, which are rounded with abrasive ceramic stones and baked at more than 1,000 degrees Celsius before being sharpened. Victorinox, which produces 10 million Swiss Army Knives a year alongside kitchen and commercial knives, watches and luggage, is one of many Swiss manufacturers worried about the higher cost of doing business with the United States. Trump imposed tariffs of 39% on imports of goods from Switzerland in August in a bid to cut the U.S. trade deficit with the country. "If the tariffs stay in place, that's an exceptionally challenging situation," said CEO Carl Elsener, whose great-grandfather founded the company in 1884, add
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News
- US investor Wood lambastes Swatch, proposes overhaul to company's board, FT reports [CNBC]CNBC
- Could Easing US Tariffs Reveal a Competitive Advantage for Swatch Group (SWX:UHR)? [Yahoo! Finance]Yahoo! Finance
- Swiss watchmaker stocks rally as Trump dangles relief from steep 39% US tariff [Yahoo! Finance]Yahoo! Finance
- U.S. and Switzerland working on a deal to slash 39% tariffs [CNBC]CNBC
- USTR Greer Talks Trade With Swiss as Swatch CEO Blasts Approach [Yahoo! Finance]Yahoo! Finance