Europe's luxury players face a path-defining twist with Trump's tariffs. But only a handful of them will suffer the worst impact [Fortune]
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Source: Fortune
Europe, subject to a 20% blanket tariff, will now have to brace for the aftermath of these measures—as will its most alluring sector: luxury. Luxury has an outsized presence in Europe, with its brands accounting for at least 70% of the global luxury goods market and its exports worth €260 billion annually, the European Union estimates . That's about 10% of all EU exports. A hefty levy could mean different things for different luxury companies, depending on various factors, including which type of shopper the brand caters to. Regardless, it will be substantial for the sector. “The impact from the announced tariffs might not just be on margins, but possibly also on the underlying demand, in both the short term (due to higher level of uncertainty and stock market volatility, usually both impacting consumer confidence) and medium term (due to likely rising inflation),” Chiara Battistini, JPMorgan Chase's head of European luxury research, wrote in a note Thursday. Trump's qualm is
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