The Tariff Saga So Far (The Short Version)

This is how we’ve been tracking the tariff chaos so far:

What This Means for Your $3,000 Bag

Here’s the simple math on a bag worth $3,000 from France:

How to Calculate What You Owe (Right Now)

It’s easier than it sounds. Here are the steps: 1. Find your bag’s HTS code. Go to usitc.gov and search “HTS 4202.21” for handbags. This tells you the base tax rate. For EU leather bags, it’s usually 9%. 2. Add the Section 122 tariff. Add 10% on top (the new tariff from today). So: 9% + 10% = 19% total. 3. Multiply: Bag value x 19% = your tariff. Example: $3,000 x 19% = $570. 4. Add the processing fee. About $10 extra per shipment (called MPF). So your total is $3,000 + $570 + $10 = $3,580.

Pro tip: Use tariffcentral.org or cbp.gov to double-check your specific code. Your customs broker should be recalculating your landed costs today.

Wait. What Happened to the EU Agreement/ Scotland Deal? Great question. Here’s the simple version: The Scotland deal (officially called the Turnberry Agreement) capped tariffs at 15%. But that deal was built on top of Trump’s old IEEPA tariffs, the ones the Supreme Court just threw out. When the court scrapped IEEPA, it also scrapped the legal plumbing that made the deal work. And on February 23, Europe’s Parliament officially said: “We’re pausing the deal.”

So the 15% ceiling is gone, at least for now. A new deal could be negotiated, but nothing is in place today.

Can I Get Money Back on the Extra Tariffs Paid that SCOTUS Struck Down? Maybe. If you imported luxury items originating (manufactured) from Europe between April 2025 and February 20, 2026, you may have overpaid because those tariffs were just declared illegal.

Here’s how to think about getting your money back: Obtain a lawyer or customs broker. File a CBP Protest (CF-19) for the last 180 days of tariffs paid and file with the Court of International Trade (CIT) for all the extra tariffs paid.

What else?

1. Sign the free refund petition at wepaythetariffs.com. We’ve already signed up and it only takes two minutes.
2. Ask your customs broker or customs attorney to walk you through what you need for your filings. This is absolutely worth doing.

What to Do Right Now

1. Fix your prices today. Your cost to import EU bags just went up. Rework your landed cost calculations using 19%, and model a worst-case of 24% if Trump signs the higher rate.
2. Don’t count on the Scotland deal anymore. The 15% cap is legally gone for now.
3. Watch for CBP updates. Trump announced he wants to raise Section 122 to 15%, but it hasn’t been officially signed yet. When it is, your customs broker will hear about it first.
4. Pursue your IEEPA refund. Talk to a customs attorney and/or customs broker.
5. Sign the refund letter. wepaythetariffs.com. Two minutes. Do it.
6. Plan for uncertainty. Have a “low” and “high” version of your cost model ready. Best case: 15% (if a new EU deal is made). Current official: 19%. Worst case: 24%.

The short version: It’s messier than it was last week. Tariffs on EU bags went up (again), the Scotland deal is on ice, and things could get worse before they get better. Nobody has a crystal ball here, not even the lawyers. We’ll keep this updated as things change.

Stay tuned. More whiplash is almost certainly coming but in the meantime, we stand shoulder-to-shoulder with you, working closely with our suppliers, negotiating strategically on your behalf, and doing everything possible to protect your margins so you can continue bringing your clients the very best in luxury resale.

Have questions? Reach out anytime, we’re all figuring this out together, and your success is our priority.

Your partner, Elise Whang (CEO) and The LePrix Team