Impact of a trade war on china’s luxury shoppers is ‘minimal’ for now

by MR Magazine Staff

The impact of the ongoing trade spat between Washington and Beijing is going to have a “minimal” impact for now on China’s luxury shoppers, according to a partner at consulting firm OC&C Strategy Consultants. Most of the impact will be indirect, with the trade tariffs likely affecting the overall Chinese economy and the capacity for consumers to spend money on luxury goods, Pascal Martin told CNBC’s “Squawk Box” on Tuesday. “If you really look at the impact on luxury goods right now, it’s very minimal because they’re not part of the list of products affected by phase one and phase two of the trade sanctions that are being taken by the U.S. and China,” he said. The U.S. has implemented additional tariffs on around $250 billion worth of Chinese goods that enter its borders, and China has retaliated with extra levies on roughly $110 billion of imports from the U.S. Read more at CNBC.