The U.S. Won’t Tax French Luxury Goods By 25% After All
Louis Vuitton lovers can breathe a (temporary) sigh of relief. The U.S. Trade Representative (USTR) is pressing pause on its plans to impose tariffs on French luxury goods. The course of action was set in motion as a retaliatory strike against France, which in November issued a three percent levy against some revenue generated by Big Tech, including the American firms Google, Facebook and Amazon. Under the original provisions that have since been sidelined, an extensive list of French imports worth $1.3 billion would have been subject to an additional 25 percent tariff, according to Business of Fashion. That list included everything from cosmetics to handbags, both categories from which French luxury brands make a mint. Read more at Robb Report.
