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The FDA posted a message on its website after Trump signed the provision: "On December 20, 2019, the President signed legislation to amend the Federal Food, Drug, and Cosmetic Act, and raise the federal minimum age of sale of tobacco products from 18 to 21 years

This is good news because the cost of scaling up these businesses has been a drag on BATs earnings in recent years, and as those losses turn into profits over the next few years that headwind should turn into a tailwind

The most recent transaction was the March 2018 acquisition of Donskoy Tabak, a smoking tobacco company founded in 1857 and based in Rostov on Don

Why Grow Louisiana Perique

Axton is professor of English at the University of Louisville