GOVERNMENT: Alarm over Watches

The peaceful Swiss were up in arms against the U.S. last week. The battle was touched off by the U.S. Justice Department, which filed an antitrust suit in Manhattan accusing Switzerland's watch cartel and U.S. watch importers of conspiring to control production and fix prices in the U.S. Reaching out across 3,850 miles to name Switzerland's proudest and most respected watchmakers* as coconspirators, the Justice Department charged:

¶ Bulova Watch Co. and Gruen Watch Co., in exchange for Swiss movements and parts, agreed to limit their U.S. manufacturing, import from no country...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!