Trump appears with Rolex CEO at U.S. Open even as 39% tariff set to pummel Swiss watch imports

President Donald Trump appeared at the U.S. Open this weekend alongside Rolex CEO Jean-Frederic Dufour, weeks after tariffing the watchmaker's home country.

Trump watched the men's singles final in New York on Sunday in a midcourt box operated by Rolex, which also sponsors the tournament. The president was joined by family members and high-profile White House officials including Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt, according to NBC News.

Trump was invited by Rolex, according to a report from The Associated Press on Saturday citing a person with knowledge of the details. Rolex and the White House did not respond to CNBC's request for comment.

Rolex's alleged invitation came within weeks of Trump placing a 39% tariff rate on Switzerland, where Rolex is based. That's higher than other countries in the region face following deals between the U.S. and the European Union and United Kingdom.

Bernstein analyst Luca Solca wrote to clients last month that "the last minute deal that many had hoped for didn't materialize."

Solca said Swiss watchmakers will likely need to hike prices as a result of the levies. The analyst said the 39% levy is almost two-times higher than previously expected for the country.

But Solca also said the group saw a pull-forward in shipments ahead of tariff implementation, which can provide a "buffer" on price tags for around six months.

Trump's attendance in the Rolex box marks his latest interaction with major corporations, which have aimed to curry favor following his return to office this year. The president hosted several CEOs of large technology companies at the White House last week.

Sunday's visit was Trump's first time at the sporting event since 2015, according to the Associated Press.

Rolex is a private company founded in 1905 and headquartered in Geneva. Tickets for the U.S. Open final cost at a minimum upwards of $800 with close seats going for thousands of dollars.