Get the latest gossip
It could set the industry back 50 years: fashion braces for impact of Trump tariffs
From farmers to designers, the entire supply chain will be hit – but it is unclear what duties apply to a finished product
Trump’s “liberation day” tariffs included a 10% duty on all imports to the US but “worst offender” countries – those with whom America has bigger trade deficits – face a higher rate. Bangladesh, where garment manufacturing makes up to 80% of its total exports, will be subjected to 37% levy, while the EU, which accounts for at least 70% of the global luxury goods market, will be hit by a 20% tariff. Trump visited its Rochambeau Ranch in 2019, while his second inauguration in January this year was attend by Bernard Arnault, the LVMH chief executive, alongside daughter Delphine and son Alexandre.
Or read this on The Guardian