Wealthy Americans are traveling to Europe to dodge tariffs on luxury goods

Key Points

Some affluent consumers are planning trips to Europe to buy luxury goods, with the goal of bringing them back tariff-free.
Watchmakers in Switzerland and fashion boutiques in France and Italy are among the most sought after, travel advisors said.
There are caveats to the strategy, experts said. For one: Travelers are supposed to declare items purchased abroad to customs agents when reentering the U.S., at which point they’d likely owe taxes.

Source

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