Swatch Group CEO Nick Hayek has criticized Switzerland's "defensive" stance in the customs dispute with the U.S. In an interview with the "NZZ am Sonntag" newspaper, he proposed 39% export duties on gold bars to the U.S. as a strong signal: "That would have sent a clear and strong message to the U.S."

In operational terms, the group is responding to the U.S. tariffs with flexible price and margin management: depending on the brand, price increases of 5% to 15% are planned in America. "Then, of course, there are products that American consumers simply want, such as the MoonSwatch Moonshine Gold, which now costs $450 instead of $400" said Hayek.

Americans continued to buy - despite price increases. According to Hayek, sales growth in local currency in the U.S. business at the end of Aug

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