President Donald Trump drew both cheers and boos at the U.S. Open men’s final on Sunday, making a surprise appearance in Rolex’s suite alongside the Swiss luxury brand’s chief executive Jean-Frédéric Dufour.
Trump’s presence at Arthur Ashe Stadium added a political edge to one of tennis’s marquee events. Security checks and delays pushed back the match start by nearly half an hour, frustrating fans who were forced to queue outside. Broadcast partners reportedly minimized crowd reactions, which included scattered jeers as well as applause.
The appearance came just weeks after Trump’s administration imposed a 39 percent tariff on Swiss imports, a move that has rocked the luxury watch industry. The levy, which took effect August 7, has been described by analysts as a “body blow” to Swiss watchmakers, including Rolex, Omega, Patek Philippe, and Cartier.
Industry experts forecast U.S. retail price hikes of 12 to 35 percent, while the secondary market for pre-owned watches is already climbing as collectors rush to buy before further increases. Some brands rushed shipments ahead of the tariff deadline to cushion the blow, but retailers now face supply disruptions and rising costs.
The U.S. is Switzerland’s second largest export market for watches, accounting for about 17 percent of total sales. Swiss officials have voiced alarm, warning the tariff could shave up to 0.6 percent off the country’s GDP. Negotiations are ongoing, but an attempt by Swiss President Karin Keller Sutter to reduce the duty to 10 percent has so far failed.
Despite the turbulence, retailers such as Watches of Switzerland have sought to calm investors, suggesting the near term impact will be manageable. Still, industry insiders expect higher prices and tighter inventories to reshape U.S. consumer behavior, with many buyers turning to the booming pre-owned market.
For Rolex, the timing of Trump’s high profile courtside appearance alongside its CEO underscores the tension between prestige branding and the political storm surrounding trade.