Luxury brand LVMH gets caught up in an EVs-vs-booze battle

A trade war is brewing between the EU and China over electric vehicles and brandy. China imposed tariffs on European brandy, impacting French luxury giants like LVMH, after the EU introduced tariffs on Chinese EVs. This retaliatory move by China, the second-largest cognac market, has caused French brandy stocks to slump and prompted price hikes and potential cost cuts.