During the US Open final, Donald Trump, while attending the event, humorously inquired with Rolex executives if his presence in their VIP box would have been possible given the recent imposition of tariffs. This remark, according to Rolex CEO Jean-Frederic Dufour, was made in jest.
The incident prompted scrutiny from Elizabeth Warren, a US senator, who questioned the decision to invite Trump, raising concerns about whether Rolex was attempting to “curry favor” with the administration. Warren emphasized that such matters should not be taken lightly.
Trump’s tariffs, specifically a 39% levy on Swiss exports, pose a significant challenge to Rolex, a major player in the watch manufacturing industry. Dufour stated that the invitation to Trump and other administration officials was motivated by a focus on “the values of sport, sportsmanship and international friendship,” denying any attempt to appease the US president. He added that Rolex had not engaged in any negotiation with the US government concerning tariffs.
Dufour recounted that Switzerland and its exporters, including Rolex, were brought up by Trump in jest about the tariffs. Dufour noted that the conversation didn’t go further than a lighthearted comment. Warren criticized the situation, highlighting the impact of Trump’s tariffs while contrasting it with the luxury setting of the event.
As a gesture of appreciation, Trump received a golf sweater and a sports gilet during the event.