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SevereCorruption & ConflictsSecond Term

Swiss Executives Give Trump a Gold Bar and a Rolex Clock, and a Week Later He Cuts Swiss Tariffs From 39% to 15%

November 4, 2025Updated October 2, 20264 sources10 key facts

November 4, 2025: Swiss businessmen including Rolex CEO met Trump in Oval Office bearing Rolex table clock and 1kg gold bar engraved with Trump's name. One week later (Nov 13), Trump lowered tariff on Switzerland from 39% to 15%.

Former Swiss ambassador: “very close to corruption.” Former White House ethics lawyer: gifts “should trigger a congressional investigation.” Swiss prosecutors received three criminal complaints.

Key Facts7
  • 01Executives included Jean-Frédéric Dufour (Rolex CEO) and Marwan Shakarchi (MKS PAMP gold refiner chairman)
  • 02Swiss business delegation sought tariff reduction from 39% that caused Swiss exports to collapse by nearly one-third
  • 03One week later (November 13): Trump lowered tariff on Switzerland from 39% to 15%
  • 04Swiss also promised $200 billion U.S. investment over next three years
  • 05Swiss Green Party MPs filed criminal complaint; Swiss attorney general's office confirmed receiving three criminal complaints
  • 06Gifts estimated worth tens of thousands of Swiss francs
  • 07Swiss politicians decried 'gold bar diplomacy' in Trump trade deal
Sources4
Verified across 4 sources
—News Reports
Bloomberg: Rolex, Gold Gifts to Trump Spur Call for Swiss Investigation→NPR: A Rolex, a gold bar, a trade deal and the ethics of presidential gifts→
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