How Trump’s tariffs are dampening hopes of a luxury sector revival
How Trump’s tariffs are dampening hopes of a luxury sector revival
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The escalating trade war initiated by US President Donald Trump, including a significant tariff hike against China, is threatening the recovery of the global luxury sector. While the luxury market is projected to grow modestly from 2024 to 2027, recent economic challenges, including high inflation and consumer spending shifts, have dampened luxury purchases. Major luxury brands are experiencing stock declines, and tariffs may lead to increased demand for counterfeit luxury goods.
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