US President Trump's new 15% tariff on most European exports came into effect this morning. The impact on European producers includes shipment delays, price hikes, and margin cuts. Smaller firms that are unable to relocate production may close, but luxury brands are more likely to adapt.
While down from even more elevated threatened rates, after the European Union struck an agreement on a blanket tariff at the end of July, the tariffs are the highest since the 1930s.
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