Hermès Cuts Prices in China, Along With Luxury Peers

PARIS — A trade war may be heating up both sides of the Pacific, but European luxury goods companies are quietly reducing prices of their fashion goods in China, passing lower import duties on to consumers in the all-important market.

Prompted by cuts in Chinese import tariffs earlier this month, part of a government drive to promote consumption on the mainland, Hermès International said Friday it has cut prices in China by around four percent, after logging better-than-expected results in the second quarter.