European luxury goods on Trump’s radar

In retaliation to Europe’s illegal government aid to Airbus SE, the US has identified possible targets sourced from Europe for imposing tariffs which could be potentially as high as 100%. The list encompasses products such as European aircraft and parts (regarded as the most valuable commodity in the list), whiskeys, wine, Champagne, handbags and men’s suits. These have a total export value of US$ 25 billion a year. US is one of the top destinations for European companies engaged in the export of luxury products. These duties are explicitly authorized by the WTO and are likely to drive up the cost of products for the American customers.