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Euronews
Euronews
Indrabati Lahiri

How Trump’s tariffs are dampening hopes of a luxury sector revival

Luxury United States Donald Trump China European Union Chanel Dior Louis Vuitton LVMH McKinsey

US president Donald Trump’s rapidly escalating trade war is significantly jeopardising the global luxury sector’s rebound. With Trump recently hiking tariffs against China to up to 245%, the worldwide luxury sector’s woes could be far from over. 

The global luxury sector is likely to expand between 1% and 3% per year between 2024 and 2027, according to a recent report by McKinsey. 

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