China turns to stimulus, charm offensive to blunt Trump’s tariffs: But US duties of 104% could deal a severe blow to an economy struggling with depressed consumer and business confidence.
Apparel brands and manufacturers fear hit from Trump tariffs: The duties will disproportionately affect the industry, as 97% of the apparel and shoes sold in the US is imported from countries like China and Vietnam.
Luxury brands are grappling with downturns in the US and China, the largest markets for personal luxury goods, and will have to seize opportunities for growth from new markets and product innovation.