Duty free set to benefit from imposing trade war, says Dufry
The looming trade war between the world’s biggest countries could be set to benefit the duty free industry, says the world’s largest duty-free retailer Dufry.
Speaking in an interview with Bloomberg.com, Chief Executive Officer Julian Diaz said that tax-free airport shops could benefit from the impending tariffs due to be imposed by the US on Chinese exports and European steel and aluminium, with both China and the EU set to impose retaliatory tariffs.
Stating that duty free could command a higher price should the government impose new import levies, he said, “We’re not subject to taxes, we’re not subject to duties — if there are taxes and duties at the border, for us it’s better.”
However, he was forthcoming in the greater need for harmony, stating, “I’m a citizen of the world, and free trade is probably the best thing.”
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