(L-R) U.S. President Donald Trump and Rolex CEO Jean-Frederic Dufour arrive within the Rolex suite prior to the Men’s Singles Final match between Jannik Sinner of Italy and Carlos Alcaraz of Spain on Day Fifteen of the 2025 US Open at USTA Billie Jean King National Tennis Center on September 07, 2025 in New York City.
Matthew Stockman | Getty Images
Sen. Elizabeth Warren served Rolex with a important letter on Wednesday for internet hosting President Donald Trump on the U.S. Open, alleging that the Swiss firm may be making an attempt to sidestep tariffs slapped on its dwelling nation.
The Massachusetts Democrat mentioned that Rolex’s actions mark the newest instance of firms benefiting from their leaders’ relationships with Trump. She mentioned the occasion warrants an inquiry into “whether or not you take a web page from Apple and Nvidia‘s playbook.”
“This invite … raises questions about whether you are cultivating a relationship with President Trump in attempts to secure lucrative tariff exemptions for Rolex products,” Warren wrote within the letter addressed to Jean-Frederic Dufour, the watchmaker’s CEO, that was shared solely with CNBC.
Both Nvidia and Apple have introduced domestic investments since Trump returned to the White House in January. Trump invited technology sector CEOs to the White House for a dinner earlier this month.
Rolex, Apple and the White House didn’t reply instantly to CNBC’s request for remark. Nvidia declined to remark.
Warren’s letter comes weeks after Trump was spotted at Rolex’s midcourt box alongside Dufour through the U.S. Open males’s singles championship. The president was joined by relations and high-ranking administration officers together with Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt, NBC News reported.
A view of U.S. President Donald Trump (C) on a Rolex show through the Men’s Singles Final match between Jannik Sinner of Italy and Carlos Alcaraz of Spain on Day Fifteen of the 2025 US Open at USTA Billie Jean King National Tennis Center on September 07, 2025 in New York City.
Al Bello | Getty Images Sport | Getty Images
Trump introduced in August that he would place a 39% levy on Switzerland’s exports — the next fee than these confronted by the European Union and United Kingdom. Bernstein analyst Luca Solca informed shoppers that “the last minute deal that many had hoped for didn’t materialize” between the U.S. and Switzerland.
Swiss watchmakers — an business the nation is thought for worldwide — will possible have to hike costs because of Trump’s tariffs, Solca mentioned.
“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,” Warren wrote. “I have questions about whether you are attempting to curry favor with the President in an effort to secure special-interest exemptions for Rolex products.”
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 strategy to the U.S. levies.
The firm launched a special-edition watch model this month with the positions of the numbers three and 9 swapped. Looking from left to proper, the numbers collectively present “39.”
An organization spokesperson informed CNBC Swatch would cease promoting the watch as soon as the U.S. modified its tariff coverage towards Switzerland.
