The new 60% Swiss made rule in my opinion is a ticking time bomb as this immediately puts emphasis on where rest of the 40% is being made. Well exactly in the same place as it has been for the past 40 years...in Asia.
For over 4 decades now most Swiss watchmakers have enjoyed an added advantage of using cheaper imported (Asian made) parts in their Swiss made watches, and this change now is only happening because their hushed, secretive Swiss made code is being openly leveraged by (overseas) brands like VOILA - in a way these truly are - Revolutions in Time!
We all know Switzerland does not own, produce or mine any Gold, Platinum or Diamonds, so technically none of their high end jewellery watches fitted with precious stones or metals can now claim their precious Swiss Made mark, well that's what you think. The Swiss with all their 'Swissness' have played these rules to read 'Swiss value' and not 'Swiss components' which grants them an infinite authority to accommodate R&D, design, publicity and 'you name it' costs in order to fit into this 60% rule. The rest of the 40% could even mean your Swiss made watch can now be a 100% sourced &/or assembled anywhere in the world including China with China made movements. This will lead to an open disclosure of hefty margins retained in Swiss made watches, a disaster for their horological and other industry.
The Chinese insisted on stricter Swiss Made rules in lieu of relaxed import duties with an (obvious) agenda to strengthen their own brands. With this new 60% rule, more and more watches will be globally manufactured and will become increasingly acceptable to all levels of watch buyers.
It’s not hard to see this law was designed to benefit 1 or 2 big players and at the cost of numerous Swiss jobs, all this will hurt the smaller Swiss manufacturers, and gives larger groups an added advantage and a new reason to raise their prices.
It did take the Swiss parliament six years to light this fuse, and may take another 5-10 years till this blows up and it eventually will. In the meantime the Asian watch industries along with American micro brands are laughing all the way to the Bank. There still maybe time to cull this fuse as its either got to be a 100% Swiss or the ’Swiss Made’ rules must remain as they were.