With U.S. tariffs on 34 billion of Chinese goods slated to go into effect July 6, the trade war between the world's biggest economies has kicked into high gear. But luxury industry insiders, from executives to analysts to Gucci addicts, can be forgiven for any confusion over what this will mean to them.
Here’s Jing Daily’s fast guide to stories, including our own, that parse the potential impact of the escalating trade disputes on a variety of luxury markets and goods.
— More trouble for Tesla?#
In the luxury automobile sector, the trade war could erase their decades of lobbying efforts in China for easier access to the market, reports Bloomberg.
—‘Discount’ handbags#
: Is it just coincidence that LVMH opted to cut prices in China this week? We didn’t think so.
— The fashion industry is braced for impact#
: China accounted for 36.4 percent of global clothing exports in 2017.
Airbus#
Chief Executive Tom Enders#
told CNBC he believes an escalation of the trade war could trigger retaliation from China that would ultimately affect air traffic.
— A duty-free upside?#
Dufry AG’s CEO told Jing Daily the duty-free company "would thrive in a more restrictive trade environment"—and why.
— And more good news#
... Jing Daily looked at how the changes might boost Tiffany’s bottom line.
— Want to look like an expert?#
The Financial Times offers a detailed timeline of the escalation of the U.S.-China trade since March 2018.