LVMH, Kering, and Other Luxury Stocks Sell Off on Tariff Concerns

President Donald Trump’s renewed tariff threats were weighing connected European luxury stocks Tuesday morning.

Over the weekend, Trump said helium would enforce a 10% tariff connected 8 European countries—Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland—to unit them to let the U.S. to bargain Greenland. The duties would summation to 25% if a woody wasn’t reached by June 1, Trump added.

The president aboriginal threatened to enforce 200% tariffs connected French vino and champagne. The determination is meant to propulsion French President Emmanuel Macron to articulation the Gaza Board of Peace pursuing reports that Macron whitethorn diminution to participate. Trump formed the bid committee past twelvemonth arsenic portion of the cease-fire woody betwixt Israel and Hamas, and has since made moves to grow the board’s membership. Countries invited to enactment are being asked to wage astir $1 cardinal for a imperishable seat.