PUTTING THE SWISS BACK INTO SWISS WATCHES

The Legal Affairs Committee of the National Council of Switzerland has approved a minimum rate of 60% "Swiss value" for goods made in Switzerland, something the Federation of the Swiss Watch Industry (FHS) says will help safeguard jobs in the country.

The approval means that, with a view to the "Swissness" of Swiss watches, at least 60% of the cost price of a timepiece must be manufactured in Switzerland if its purports to be Swiss made. In a move that might give some brands leeway, research and development costs can now also be included within this 60%.

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