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Danone, L’Oreal imports could submerge in U.S.-French tensions

Cons. Discr. - Retailing 417 Consumer Staples 736 France 148 Trade Deals 978 U.S. 5211

France has recalled the ambassadors to the U.S. and Australia after a deal was announced for Australia to build submarines using U.S. nuclear technology instead of purchasing vessels from France. The French have called the move a “stab in the back” and if the disagreement continues it could easily spill into other areas of trade policy, like the still in effect Section 232 tariffs or the agreement to wind down the conflict over Boeing and Airbus subsidies. Trade between the U.S. and France has not recovered from the pandemic, with imports to the U.S. down by 13.3% in August against the s...

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