Trump said he agreed to lower tariffs on Swiss goods after meetings with Rolex and other leaders

""all hell really broke out""

""I was paid visits by everybody," he said. "Rolex came to see me.""

""But I realised, and I reduced it because I don't want to hurt people," he said of the tariff rate."

""We brought it down to a lower level. Doesn't mean it's not going up, but we brought it down to a lower level," Trump said."

Tariff proposals for Swiss imports were revised down to a 15% cap after prior plans included a 30% target and a 39% proposal. Meetings with Swiss businesses, including luxury watchmakers such as Rolex, influenced the decision to lower the rate to avoid harming people. US watch sellers warned that higher tariffs could prompt Swiss manufacturers to raise retail prices, potentially affecting consumers. Swiss business leaders engaged in direct discussions and presented gifts during meetings. The current 15% cap remains subject to future change, with officials leaving open the possibility of increasing the rate again. Events occurred amid gatherings at the World Economic Forum in Davos.

Read at Business Insider