By  on December 3, 2019

PARIS — French luxury goods companies’ stocks took a hit on Tuesday after the U.S. government said it may enforce duties of up to 100 percent on $2.4 billion worth of imports from France — including handbags, cosmetics, wine and cheese — in retaliation for a French tax on U.S. digital giants.

LVMH Moët Hennessy Louis Vuitton shares had sunk by 1.4 percent, Kering’s by 1.9 percent and Hermès International’s by 2.5 percent at the close of the bourse on Tuesday. The CAC 40 exchange, meanwhile, ended down 1 percent.

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