Top Stories

French luxury stocks drop as Trump threatens heavy new tariffs


Matthew Lloyd | Getty Images

Shares of French luxury goods makers, including LVMH and Hermes, dropped in European trading on Tuesday after President Donald Trump’s administration said it may place heavy tariffs on several goods.

LVMH – which includes the brands Louis Vuitton and Hennessy – and Hermes each fell more than 2% following the announcement.

The move by the U.S. comes in retaliation to France’s implementation of a Digital Services Tax. Under the new tariffs, which may begin in late January, the U.S. Trade Representative could add levies up to 100% on around $2.4 billion imports from France.

“This would essentially double taxes on French companies and citizens with U.S. income,”…


Your first trade for Tuesday, December 3

Previous article

While tax rates are still relatively low, consider this move for your company stock options

Next article

You may also like

Leave a Reply

Notify of

More in Top Stories