Swiss watch exports to the U.S. plummeted 55.6% in September, according to the Federation of the Swiss Watch Industry, causing the U.S. to fall from top export market to third place globally. The dramatic decline drove overall Swiss watch exports down 3.1% by value for the month. U.S. market share shrunk from approximately 15% to just 7.9%, now matching markets like the U.K. and Japan. The collapse follows a July export surge when manufacturers rushed shipments ahead of anticipated U.S. tariff increases. Major watchmakers including Richemont, Swatch Group, Audemars Piguet, and Patek Philippe are affected by tariffs. Excluding the U.S. market, Swiss watch exports would have grown 7.8% in September.