E-commerce Trend - TikTok Shop is transitioning from a low-cost online retailer to a high-end shopping destination [1] - TikTok Shop is offering pre-owned luxury items that sell for thousands of dollars [1] Luxury Goods Market - Birkin bags and Rolex watches are now available for purchase on TikTok [1] - Luxury items are often sold through TikTok Live [1]

Trade Agreement Overview - The US has agreed to cut tariffs on Switzerland from 39% to 15% as part of a new trade pact, which aims to improve economic ties and support Swiss exporters [1][2] - The agreement includes a "non-binding memorandum of understanding" following bilateral talks and lobbying by Swiss firms [1][2] Tariff and Quota Details - The new deal aligns US tariffs on Switzerland with those on the European Union, providing Swiss exporters with competitive parity [3] - Switzerland will reciprocate by reducing tariffs on a range of US products, including industrial goods, fish, seafood, and non-sensitive agricultural products [3] - Specific quotas for US goods exported to Switzerland will be established, including 500 tonnes of beef, 1,000 tonnes of bison meat, and 1,500 tonnes of poultry [3] Implementation and Economic Impact - The implementation date for the new tariffs and quotas is yet to be finalized, with coordination between the US and Switzerland to ensure simultaneous customs duty reductions [4][5] - The deal is expected to encourage Swiss companies to invest approximately $200 billion in the US by the end of 2028 [6] Corporate Engagement - Leading Swiss executives met with the US President to finalize the deal, indicating strong corporate interest in the new trade relationship [6] - Rolex, a prominent Swiss luxury watchmaker, has engaged with the US administration, highlighting the personal interactions between corporate leaders and government officials [7][8]

Core Viewpoint - Senator Elizabeth Warren has raised concerns regarding Rolex's relationship with President Donald Trump, suggesting that the company may be attempting to secure tariff exemptions through this association [2]. Group 1: Company Actions - Rolex hosted President Donald Trump at the U.S. Open, which has led to scrutiny over whether the company is leveraging this relationship for potential tariff benefits [2][4]. - The invitation to Trump has drawn parallels to actions taken by other companies like Apple and Nvidia, which have made domestic investments since Trump's return to the White House [3]. Group 2: Political Context - Warren's letter to Rolex's CEO, Jean-Frederic Dufour, questions the company's motives and suggests an inquiry into its practices [2]. - The presence of high-ranking officials alongside Trump at the U.S. Open, including Treasury Secretary Scott Bessent, highlights the political connections that may influence corporate strategies [4].

For the rich, $4,460 coats and Rolex watches are basics to buy in multiples—one for each of their houses https://t.co/J1J9x9TP7J ...

Consumer Behavior - The luxury market sees items like $4,460 coats and Rolex watches as essential purchases for wealthy individuals, often buying multiples for different residences [1]

Consumer Behavior - Luxury goods are considered essential purchases for wealthy individuals, who often buy multiples for different residences [1] Market Insight - The luxury market caters to affluent consumers who view items like $4,460 coats and Rolex watches as basic necessities [1]

Industry Highlights - Rolex launched its first new collection in over a decade [1] - The biggest watch show featured timeless timepieces [1] - Vacheron Constantin showcased its timepieces [1] Product Innovation - The watch show displayed the world's most complicated wristwatch [1]