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LVMH sacrifices Tiffany deal in Franco-American tariff tiff

Cons. Discr. - Apparel 352 Cons. Discr. - Retailing 286 Consumer Staples 587 France 138 Mergers 214 Tariffs 1611 U.S. 4455

LVMH has abandoned its bid for Tiffany & Co., reportedly after pressure from the French government related to a set of ongoing trade spats between France and the U.S. That likely relates to current and planned U.S. tariffs on French exports in a disagreement over aerospace subsidies and in connection to France’s digital services tax. French exports of products covered by the various tariffs include those in beauty products, where shipments fell by 13.5% year over year in the 12 months to July 31, as well as food / beverages and luggage where U.S. imports from France fell by 7.6% and 6.8%...

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