I believe it's multiplicative ... so, 70% reduction = 0.3 damage taken ..... 7% reduction = 0.93 damage taken ....
0.3 * 0.93 * 0.93 * 0.93 * 0.93 * 0.95 * 0.95 = 0.2046 -> 20.5% damage taken in total.
If you have Etoile Boost and taking multiple hits, you'll get additional bonus (15%/hit, capped at 75%, but reduced by 25%/s) ..... at maximum 75%, you'll take 5.1% damage in total.
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