Rolex Gifted President Trump A Clock - Will it Ease Tariffs?

The Rolex gift that landed on President Trump’s desk and what it signals in broader trade diplomacy and US-Swiss bilateral relations.

This weekend, photos surfaced of President Donald Trump in the Oval Office, with a new accessory on the 145-year-old Resolute Desk, a gold-plated desk clock with a green “malachite” dial and fluted bezel. The timing was suspicious, as the week prior, the White House hosted a delegation of Swiss executives, including Rolex CEO Jean-Frédéric Dufour, to discuss the ongoing 39% tariff for Swiss imports to the United States. We don’t believe in coincidences.

While the story has been picked up (and confirmed) by many major outlets since our discovery, we wanted to provide some additional thoughts on the gift and the role of Rolex in diplomacy.

Swiss executives meet with President Trump in the Oval Office, 04 November 2025. (Photo Credit: The White House)

Oval Office, White House, 04 November 2025

Last Tuesday, Swiss business leaders from Rolex, Richemont, and Partners Group Holding, the owner of Breitling, flew to Washington for a private meeting with President Trump, a move aimed at breaking the stalemate over the punishing 39 percent U.S. tariffs on Swiss imports.  While the group's post-meeting statement claimed they “did not participate in any negotiations with the U.S. President,” the intentions were clear; the 39% tariff is a borderline existential risk for the Swiss watch industry, which relies heavily on the US market.

According to the Swiss newspaper Blick, the executives presented President Trump with a “watch” and a gold bar from Marwan Shakarchi, the CEO of Swiss gold refiner MKS PAMP. While it's possible a watch was gifted, it appears more likely it was the clock, as these are relatively standard VIP gifts from the Swiss powerhouse. According to an article by Hodinkee, the clock was presented not to the President but to “the people of the United States,” which is exactly what we would say (wink, wink).  

President Trump’s new clock is visible on his desk in the Oval Office. (Photo Credit: The White House)

But the clock on the desk is more than a gift, it's a tool, a signal of intent, and a reminder that even in the geopolitical arena, a timepiece can carry meaning well beyond its case.  

Gifts & Diplomacy

Gifts have been a common practice in diplomacy for centuries, including from foreign governments, private individuals, and companies. As any diplomat knows, a well-timed and carefully chosen gift can move the needle more than an official statement or concession. The fact that the clock is prominently displayed in the Oval Office suggests it is serving its purpose. 

While the Trump administration has pushed the limits of traditional norms (Qatar recently gifted a $400 million luxury Boeing 747-8 jet), the clock and gold bar are not necessarily out of the ordinary. As we discussed in a previous article, President Biden received many gifts of similar value, including a $20,000 7.5-carat diamond from Indian Prime Minister Narendra Modi to First Lady Jill Biden. That said, in the watch world, there is also precedent for turning them down; a gold Omega Speedmaster was reportedly presented to President Richard Nixon to commemorate the Apollo 11 mission, which he refused due to its value.

Clock featured on the left side of the image in the Oval Office (Photo Credit: The White House)

Can He Keep It?

Because Rolex is a private company and not a foreign government, the gift does not automatically trigger the Foreign Emoluments Clause, and presidential gift restrictions that apply to other federal officials may not bind the President. Under the Foreign Gifts and Decorations Act, only gifts from foreign states must be turned over or formally accepted on behalf of the United States. While I am definitely not a lawyer, it appears that in this case, the President could legally keep the clock (and gold bar) so long as it is documented and disclosed.  

The one potential hiccup is that the gift could be perceived as an exchange for official action (ie, lowering tariffs). Regardless, the clock may still raise questions about preferential access, influence, and ethics in the broader context of presidential gift-handling. In short, consult legal counsel.

(Photo Credit: The White House)

The Rolex Desk Clock

The clock appears to be a new version of a Rolex desk clock, which, beyond the recently announced Submariner Date Desk Clock, is typically not for sale but instead gifted to employees and VIPs. The clock is likely relatively cheap, by Rolex standards, and contains a quartz movement and is made of steel and brass, not gold. 

The one in the Oval Office appears to have a green, potentially “Malachite” dial. Malachite is a precious stone that Rolex uses on several precious metal watches. The version below sold at Aniquorum for CHF 12,500 (approx $15,500) in 2018. For comparison, Rolex’s newly released Submariner Date Desk Clock Ref. 909010LN retails for $10,270 (before tariffs), but it’s currently unclear whether the President’s new clock is an extension of a new desk clock collection or a less expensive PR-oriented item

A Rolex quartz desk clock auctioned in 2018 (left) and President Trump’s new clock (right). (Photo Credit: Aniquorum & The White House)

Rolex Diplomacy

Large multinational companies, including Rolex, have long played an important role in diplomacy. This gift is just the latest evolution of the Crown’s engagement with the Trump administration. In September, Rolex CEO Jean-Frederic Dufour hosted President Trump, Pam Bondi, and Steve Witkoff to the brand's private VIP suite at Arthur Ashe Stadium during the US Open men’s singles final.

President Trump and Rolex CEO Dufour at the US Open on 07 September.

In response, Massachusetts Senator Elizabeth Warren contacted Rolex, alleging that Dufour was seeking a tariff exemption with its luxurious effort to “curry favor” with the US President. In a typically Swiss, bone-dry response the following day, Dufour noted that while President Trump had indeed joked about whether he had been invited because of the tariff situation, there was no discussion on policy, tariffs, or international relations, and the pair instead focused on the unfolding men’s singles final match (again, wink, wink).

Final Thoughts 

In 2024, Rolex managed an estimated CHF 10.58B ($11.23B) in revenue, a number eclipsing the GDP of many nations, meaning the Crown has significant political bargaining power and influence. That said, a 39% export to the US makes a noticeable dent even for a superpower like Rolex, which relies on the US Market. While bilateral US-Swiss negotiations have stalled, it may ultimately be the Swiss business delegation (and a gold clock) that moves the needle.

According to some media reporting, both sides are signaling a potential willingness to bring those duties closer to the 15 percent rate granted to the European Union. A formal letter of intent is potentially in the works, with an announcement aimed at Davos in January. The Swiss watch industry is in dire straits with a sharp decrease in demand from China and US tariffs, and this deal just may save the industry. If a deal is reached, watch nerds and manufacturers alike will rejoice.

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