LVMH Faces Triple-Whammy, L’Oreal Just One, From Digital Tax Retaliation

Cons. Discr. - Durables 347 Cons. Discr. - Retailing 313 France 141 Tariffs 1650 U.S. 4649

The U.S. government has responded to France’s unilateral imposition of a digital services tax with proposed tariffs of up to 100% on a range of French exports. The section 301 review process now moves to a consultation period, so tariffs may not be applied until late January. The move will likely worsen relations with the incoming European Commission and will overshadow trade talks in 2020. Panjiva’s analysis shows that U.S. imports of the 63 products targeted for tariffs were worth $2.38 billion in the 12 months to Sept. 30, equivalent to 4.1% of total French exports to the U.S. The lar...

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