Elizabeth Warren accused Rolex of trying to avoid Trump’s 39% Swiss export tariff

Senator Elizabeth Warren just dropped a grenade on Rolex. On Wednesday, she sent a letter to CEO Jean-Frederic Dufour calling out the Swiss watchmaker for hosting President Donald Trump at their midcourt box during the U.S. Open.

The invite, she said, looks like a play to wiggle out of the 39% tariff Trump slapped on Swiss exports in August. The letter didn’t leave much room for guessing.

“This invite… raises questions about whether you are cultivating a relationship with President Trump in attempts to secure lucrative tariff exemptions for Rolex products,” Elizabeth wrote.

She said Rolex could be copying the playbook of companies like Apple and Nvidia. Both tech giants announced domestic investments shortly after Trump returned to the White House in January.

And earlier this month, Trump brought in top tech execs for a White House dinner. The pattern, she implied, isn’t subtle: flatter Trump, sit close, and maybe get a special deal.

The letter followed a very public appearance. Trump was seen sitting right next to Dufour during the men’s championship match at the U.S. Open. He didn’t come alone. His family members were there. Treasury Secretary Scott Bessent showed up. So did Press Secretary Karoline Leavitt. NBC News reported the whole crew was packed into Rolex’s luxury suite.

Trump sets a 39% tariff while Swatch trolls with a limited-edition watch

That same month, Trump hit Switzerland with a 39% export levy, way higher than what the European Union and the U.K. are facing. That means Swiss watchmakers like Rolex are now in a jam. Either take the hit or pass the cost to U.S. buyers. Analyst Luca Solca at Bernstein told clients that “the last minute deal that many had hoped for didn’t materialize.” That deal was supposed to avoid exactly this. But it fell through.

While Rolex played the court-side game, Swatch pulled a PR stunt. They launched a watch with the numbers 3 and 9 flipped. From left to right? It read “39.” A company spokesperson told CNBC the model would be sold only until the U.S. changes its tariff stance. That was it. No letter. No tennis. Just a quiet middle finger in watch form.

Elizabeth, though, didn’t let Rolex slide. “Given the President’s record of doling out special treatment to CEOs who are able to woo him with flattery, payoffs, or both, the timing of his attendance at the match in the Rolex box is concerning,” she said.

Not everyone appreciated her tone. White House spokesman Kush Desai fired back, saying, “Pocahontas should find a better use of her time than conjuring up asinine conspiracy theories.”

U.S. eyes China aircraft deal as TikTok deal moves forward

Meanwhile, on the global trade front, Bessent went on Fox Business on Wednesday to say the U.S. has “levers” when it comes to China. He said those include aircraft engines, chemicals, plastics, and silicon parts. A day earlier, U.S. Ambassador to China David Perdue said China is finalizing “a huge order” of Boeing planes. Bessent called it a possible “centerpiece” for a broader deal.

The deal talk didn’t stop with planes. Trump and China’s President Xi Jinping spoke on Friday. After that call, Trump announced an agreement to spin off TikTok’s U.S. operations. The White House later said Oracle would be part of the investor group taking over. That puts another tech company on the frontlines of Trump’s global trade shuffle.

As the White House trades favors, tariffs, and TikTok shares, Elizabeth is now demanding to know if Rolex just made itself the latest company to kiss the ring. And if so, she wants receipts.

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