Visitors flock to luxury watch fair in Geneva, amid soaring U.S. tariffs on Swiss goods. A couple plans a ski trip to Switzerland to buy a Patek Philippe Nautilus watch for $50,000 to $75,000, dodging a 39% tariff imposed by the Trump administration.

Affluent travelers seek tariff savings on European luxury goods like watches, fashion, and jewelry. European Union faces a 15% U.S. tariff, prompting interest in shopping sprees abroad. Switzerland, home to high-end watchmakers like Rolex and Piaget, emerges as a top destination for bargain hunting.

Travelers risk tariffs on luxury goods when returning to the U.S. after shopping abroad. Customs duties apply based on where items were acquired and manufactured. Despite potential penalties, VAT refunds of over 15% in Europe can offset import costs, making overseas shopping still attractive for Americans.

Buying European luxury goods overseas can yield discounts despite U.S. tariffs. VAT refunds in Europe can exceed 15%, reducing customs-related tax bills. Travelers must follow steps to claim VAT refunds, making overseas shopping financially appealing despite potential tariffs upon reentry to the U.S.

Read more at CNBC: Wealthy travel to Europe to dodge tariffs on luxury goods