US consumers of French handbags will be partying along Fifth Avenue this evening, with reports that the Biden administration will end the handbag tax. There are also reports of an EU-US Boeing-Airbus trade dispute resolution. Did taxing handbags help solve the aircraft trade war? It has taken 17 years and a pandemic that has devastated the travel industry to reach a solution. It is hard to believe that the assorted trade taxes did anything to help.
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