In addition, Trump’s 36% tariffs on Thailand could also affect Danish jewellery manufacturer and retailer Pandora, as most of its manufacturing takes place there.
Morningstar Equity Research is maintaining its fair value estimates for luxury stocks in its coverage after US President Donald Trump announced reciprocal tariffs on large parts of the world.
Tariffs of 20% on the European Union, 10% on the UK and 31% on imports from Switzerland are having the most impact on Morningstar’s coverage, says senior equity analyst Jelena Sokolova.
