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Pandora's annual U.S. Tariff Impact is $178 Mln

Danish jeweller Pandora estimated on Thursday that the total impact of U.S. Tariffs on its company would be around 1.2 billion Danish Crowns ($178.34 millions) per year. This is before any mitigation actions taken by the company.

Pandora's shares fell 12% to a low of 15 months on Thursday after U.S. president Donald Trump raised duties on imports of goods from many countries. This included a 37% duty on Thailand where the company has two factories that produce most of its charms bracelets and other jewelry.

Pandora's biggest market, the U.S.A., which accounted for 31% in revenue last year, estimated that tariffs would have an impact of 700 million crowns by 2025.

Pandora has said that it will consider price increases and changes to the supply chain in order to mitigate this impact. It expects to be fully able to mitigate 250 million crowns associated with goods sold eventually in Canada and Latin America, but distributed through the U.S.

Pandora said it would be closely monitoring developments, including the discussions between the U.S. government and the countries affected by tariffs. Reporting by Louise Breusch Rasmussen and editing by Terje Sollvik and David Evans.

(source: Reuters)