Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French food, drink, handbags and porcelain
- Introduction: Trade war deepens
- US unhappy over French digital tax
- France: We’ll hit back!
- Yesterday: new steel tariffs on Brazil and Argentina
Shares in French luxury goods makers are dropping, due to the threat of higher tariffs on their goods.
LVMH, which produces Moët & Chandon (yummy!) have fallen 1.5% on the Paris stock market.
Critics of trade wars point out that tariffs are effectively a tax on consumers, as they make imports more expensive.