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Commerce Secretary announces U.S. taxes for cruise lines, causing major stock drops.
Commerce Secretary Howard Lutnick announced that cruise companies, which have been avoiding U.S. taxes by registering under foreign flags, will be required to start paying U.S. taxes.
This led to significant drops in the stocks of major cruise lines like Royal Caribbean, Norwegian, and Carnival Corp., with declines ranging from 5% to 11%.
Lutnick's comments, made on Fox News, suggest that the Trump administration plans to end tax avoidance by the cruise industry, potentially lowering taxes for Americans and raising funds for the government.
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El Secretario de Comercio anuncia impuestos estadounidenses para las líneas de cruceros, causando importantes caídas de stock.