Trump tariffs may hammer these luxury goods giants that cater to the wealthy [Yahoo! Finance Canada]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance Canada
Just because they sell $5,000 handbags and $20,000 watches doesn't mean it will be smooth sailing in the era of Trump tariffs for the world's largest luxury goods companies. It may be anything but smooth, if JPMorgan analyst Chiara Battistini is right. "The new import duties are worse than what had been anticipated, and a material headwind to the sector, that generates 20-25% of sales on average in the US, fully exports from Europe, with no flexibility to shift some of the production capacity to North America, and with pricing power that is increasingly questioned," Battistini wrote in a note on Friday. Trump's severe tariffs have called the profit outlook for almost every company and sector into question. President Trump unveiled a baseline tariff rate of 10% that will go into effect on April 5. A higher tariff rate will start on April 9 for about 60 countries that the administration considers to be the worst trade offenders. Europe, where many luxury goods giants such a
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