The Legal Affairs Committee of the National Council of Switzerland has changed the definition of what it means to be a Swiss made watch. Going forward, 60 percent of a timepiece must be manufactured in Switzerland to be considered Swiss made. However, brands can include research and development costs against that 60 percent threshold.
The Federation of the Swiss Watch Industry (FHS) has been leading the campaign to get passage in order to safeguard Swiss jobs.
In a statement applauding the move, the FHS said: "Rather than seeing more and more jobs relocated to China, Switzerland needs jobs in Switzerland."
As we've reported previously, many smaller watch manufacturers, such as Mondaine, have been vocal critics of the law saying it might force them to raise prices or even lead to bankruptcy.
Editor's note: At the time of this writing, it was unclear to us whether this is the final hurdle to changing the law. If you have further information, please let us know.