Economy

The tariff crisis •Trump's tariff policy 

EU gives green light to conditional tariff agreement with the US

The European Parliament has voted to move forward with legislation for the EU's part of the trade agreement with the US, with certain conditions. This is reported by several media outlets.

The Parliament voted 417 in favor, 154 against and 71 abstentions for the proposal, but with several additions.

The proposal includes reduced tariffs on certain US imports, in line with the agreement that was concluded last summer and that Brussels promised to uphold.

However, the agreement is not yet complete. Final negotiations with the member states are now pending before approval can be finalized later this spring.

Food prices
Food VAT to be reduced soon – several chains have jumped the gun

On Wednesday next week, the temporarily reduced food VAT will come into effect. But several large food chains will or have already reduced prices in advance, writes TT.

Coop and Willys will reduce their prices from Monday, March 30, while Lidl reduced prices for its members as early as March 16. Hemköp will reduce its regular prices on April 1.

ICA announces that it is up to each store whether they want to reduce prices in advance or not.

Several of the food chains welcome the reduced food VAT from 12 to 6 percent and hope that it will remain even after the turn of the year 2027/2028.

– There are many factors that affect prices, including things that we ourselves have no control over. We will continue to do what we can, but we also think that a lasting and reduced VAT would help with that, says Jan Prokopec, sales and marketing manager at Ica.

The war effect: Significant loss for Dubai's luxury stores

The Iran war has shaken the global luxury industry, writes the Financial Times. The United Arab Emirates has been a reliable growth country when sales have fallen in China and Europe, but Iranian revenge attacks on US allies have changed that.

Several luxury shopping malls in tourist-dense Dubai are recording a loss of visitors of around 50 percent compared to the previous month.

According to Morgan Stanley, the region accounts for around 5 percent of global sales for a number of luxury groups, including Richemont, which owns the jewelry company Cartier. 

Labubu Hype
Labubu Owner Falls 22 Percent on Growth Concerns


It was a sour day on the stock market when Labubu owner Pop Mart fell 22 percent. The reason for the fall is that concerns about growth overshadowed the successful results in the fourth quarter report, writes CNBC.

The Beijing-based toy manufacturer, with Labubu as the big draw, reported a 185 percent increase in sales compared to the previous year. What worries investors is the "significant slowdown in the fourth quarter," says Jeff Zhang, equity analyst at Morningstar, to CNBC.