A study says the global luxury goods market will shrink in 2025. Trump tariffs could make it worse
Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. Its author said the outlook could worsen if the sector is hit by tariffs promised by Donald Trump. Trump has pledged tariffs of up to 20% on imports, saying it would create factory jobs, shrink the federal deficit and lower food prices.