(L-R) U.S. President Donald Trump and Rolex CEO Jean-Frederic Dufour arrive within the Rolex suite previous to the Males’s Singles Ultimate match between Jannik Sinner of Italy and Carlos Alcaraz of Spain on Day Fifteen of the 2025 US Open at USTA Billie Jean King Nationwide Tennis Heart on September 07, 2025 in New York Metropolis.
Matthew Stockman | Getty Pictures
Sen. Elizabeth Warren served Rolex with a essential letter on Wednesday for internet hosting President Donald Trump on the U.S. Open, alleging that the Swiss firm might be attempting to sidestep tariffs slapped on its dwelling nation.
The Massachusetts Democrat mentioned that Rolex’s actions mark the most recent instance of firms benefiting from their leaders’ relationships with Trump. She mentioned the occasion warrants an inquiry into “whether or not you’re taking a web page from Apple and Nvidia‘s playbook.”
“This invite … raises questions on whether or not you might be cultivating a relationship with President Trump in makes an attempt to safe profitable tariff exemptions for Rolex merchandise,” Warren wrote within the letter addressed to Jean-Frederic Dufour, the watchmaker’s CEO, that was shared solely with CNBC.
Each Nvidia and Apple have introduced home investments since Trump returned to the White Home in January. Trump invited expertise sector CEOs to the White Home for a dinner earlier this month.
Rolex, Apple and the White Home didn’t reply instantly to CNBC’s request for remark. Nvidia declined to remark.
Warren’s letter comes weeks after Trump was noticed at Rolex’s midcourt field alongside Dufour throughout the U.S. Open males’s singles championship. The president was joined by members of the family and high-ranking administration officers together with Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt, NBC Information reported.
A view of U.S. President Donald Trump (C) on a Rolex show throughout the Males’s Singles Ultimate match between Jannik Sinner of Italy and Carlos Alcaraz of Spain on Day Fifteen of the 2025 US Open at USTA Billie Jean King Nationwide Tennis Heart on September 07, 2025 in New York Metropolis.
Al Bello | Getty Pictures Sport | Getty Pictures
Trump introduced in August that he would place a 39% levy on Switzerland’s exports — the next price than these confronted by the European Union and United Kingdom. Bernstein analyst Luca Solca advised shoppers that “the final minute deal that many had hoped for did not materialize” between the U.S. and Switzerland.
Swiss watchmakers — an business the nation is understood for worldwide — will seemingly must hike costs because of Trump’s tariffs, Solca mentioned.
“Given the President’s file of doling out particular therapy to CEOs who’re capable of woo him with flattery, payoffs, or each, the timing of his attendance on the match within the Rolex field is regarding,” Warren wrote. “I’ve questions on whether or not you are trying to curry favor with the President in an effort to safe special-interest exemptions for Rolex merchandise.”
A mannequin from Swiss watchmaker Swatch named “WHAT IF…TARIFFS?” with the numbers 3 and 9 reversed on its face, as a play on the 39% import tariffs that U.S. President Donald Trump slapped on Switzerland final month, is pictured on wrist at a Swatch store in Geneva, Switzerland, September 12, 2025.
Pierre Albouy | Reuters
Fellow Swiss watchmaker Swatch took a distinct method to the U.S. levies.
The corporate launched a special-edition watch mannequin this month with the positions of the numbers three and 9 swapped. Wanting from left to proper, the numbers collectively present “39.”
An organization spokesperson advised CNBC Swatch would cease promoting the watch as soon as the U.S. modified its tariff coverage towards Switzerland.