Prices on a wide array of European consumer products are set to rise beginning Aug. 1, now that a EU-U.S. trade deal is in place, including a 15% tariff duty on EU exports to the United States. From food to fashion, watches to wine and autos to appliances, few product categories are spared.

On the flip side, it’s going to make made-in-USA brands more price competitive, all part of President Trump’s America First agenda.

Depending upon how much of the 15% price premium is passed along to consumers, it could reset demand for European brands, leading to slower sales in the U.S. What’s for certain is that these premium Euro brands can’t take their previous high status for granted and must continue to invest in their prestige value to maintain their market position.

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