Tougher course called for Swatch boss Hayek criticizes the customs deal with the USA
Nick Hayek, CEO of the Swatch Group, criticizes Switzerland's customs deal with the USA. Switzerland has made itself vulnerable to blackmail through the agreement.
20.11.2025, 22:47
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- Nick Hayek, CEO of the Swatch Group, has criticized the customs deal between Switzerland and the USA.
- Hayek expresses the fear that Washington could make further demands.
- In this case, all the powder has already been shot.
Nick Hayek, CEO of the Swatch Group, has criticized the joint declaration of intent between Switzerland and the USA in the customs dispute. The lower tariff rate of 15 percent instead of 39 percent is an improvement. However, Switzerland has made itself vulnerable to blackmail.
Switzerland must be self-confident and show that it will fight even if it is treated unfairly, Hayek said on Thursday at the Swatch headquarters in Biel on SRF television's "Tagesschau" program. "This has nothing to do with ideology."
Hayek expressed the fear that Washington could make further demands. In this case, all the powder had already been shot. "They've already sent everyone who brings gifts," he said, alluding to the Federal Council's negotiating strategy and the visit of Swiss business representatives to the White House.
Hayek made similar comments in an interview with the "NZZ " and ajour.ch, the online news portal of the "Bieler Tagblatt". He had already called for a tougher stance towards US President Donald Trump following the imposition of tariffs of 39% on imports from Switzerland. Specifically, the Swatch Group CEO brought up the idea of imposing countermeasures.