The US Supreme Court’s cancellation of the US tariffs imposed by Donald Trump has brought a breath of fresh air to the European luxury goods sector. However, the immediate introduction of another global tax of 15% and the continuing uncertainty have tempered the enthusiasm of the various stock markets.
This is good news in principle for the global economy and for luxury goods in particular. However, the situation is likely to remain complex for some time to come.
On February 20, the US Supreme Court invalidated most of the US tariffs imposed by Donald Trump. This affects the so-called “reciprocal” tariffs imposed on almost all products imported into the US, but excludes certain tariffs targeting specific sectors such as automobiles, steel, and pharmaceuticals.
A slap in the face for Donald Trump
In any case, the decision by the US Supreme Court is all the more of a slap in the face for the US president given that it is a conservative majority court.
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Read also > Davos Forum: Donald Trump suspends his threats of new taxes
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