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Tiffany Feels Heat Over Trump Trade-War Talk

Jan 23, 2017 11:00 AM   By Rapaport News
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Tiffany & Co.’s sales could suffer if China retaliates by boycotting American products in the aftermath of U.S. President Donald Trump’s protectionist trade policies, Bloomberg reported.

In the 2016 holiday season, Tiffany’s sales in the Asia-Pacific region jumped 7 percent to $200 million, outperforming the company’s U.S. business, according to the retailer. The company’s shares fell less than 1 percent in U.S trading on Monday.

The luxury U.S. jeweler’s overseas revenues could come under pressure if China fights back against the Trump administration’s border-tax proposal, the news report cited Credit Suisse as saying. Other U.S. companies such as sportswear brand Nike and car makers General Motors and Ford could also bear the brunt of a potential trade war between the world’s two largest economies.

“Chinese consumers might decide to buy a German instead of a U.S. car, or buy an Adidas shirt instead of a Nike shirt,” Bloomberg cited Reto Hess, head of global equity research at Credit Suisse, as saying.

Image: Newscast
Tags: Asia-Pacific, China, Credit Suisse, Donald Trump, Far East, Rapaport News, Reto Hess, Tiffany, Tiffany & CO., trump
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