Swatch Group CEO Nick Hayek has voiced concern over the Swiss franc’s rapid rise, saying the currency’s strength is putting Swiss manufacturers at risk.

Swiss watchmaker Swatch is facing growing pressure from investors and analysts to accelerate reforms, as years of weak share performance and declining profits raise questions about its long-term strategy.

Swatch Group CEO Nick Hayek is calling on Swiss President Karin Keller-Sutter to travel to Washington and meet with U.S. President Donald Trump in a last-minute bid to avoid a steep 39% tariff on Swiss imports.