Nick Hayek called the 39% tariff imposed by the US on Switzerland as "arbitrary" and "unjustified". However, he said that these tariffs will boost the watch group's business. "I am convinced that Donald Trump wants to reach an agreement and show it to his voters in the United States. I am confident that the 39% duty will not remain in place," Hayek said in an interview with the Le Temps newspaper published on Tuesday. For Switzerland, however, this shows "a crisis of leadership", he added. +Get the most important news from Switzerland in your inbox According to the Swatch Group CEO, nothing justifies such an arbitrary tax. "We should be at the same level as the European Union", i.e. at 15%, a percentage he says is "acceptable and that we could live with". In any case, Hayek does not fear a setback in demand on the other side of the Atlantic. On the contrary, he expects the opposite effect: "If consumers are afraid that prices will rise month by month, they will decide to buy faster.
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