Good news for American lovers of French handbags. The United States suspended the tariffs on certain luxury goods from France that were to take effect January 6, 2021. As you may recall, back in July 2020 the Trump Administration levied a 25% tariff on items like handbags, as retaliation for digital taxes imposed by France on U.S. technology companies. Enforcement of these tariffs was suspended to January 6, 2021 to give the countries opportunity to negotiate. No details were provided as to how this tax would be calculated and levied on goods.
Although no agreement has been reached, the United States Trade Representative today announced indefinite suspension of the tariff enforcement.
Read USTR report from moments ago here: Suspension of Tariff Action in France Digital Services Tax Investigation
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Tariff Update: French Luxury Items Could Get Really Expensive in the US
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