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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 next year for the first time since the Great Recession in 2008 and the COVID-19 pandemic
World - ABC News - November 13
Trump tariffs loom over retail earnings as Home Depot points to ‘industry-wide impact’

Home Depot Inc.’s third-quarter results this week gave a glimpse into the looming issue of tariffs for major U.S. retailers.
Business - MarketWatch - November 13

A study says the global luxury goods market will shrink in 2025. Trump tariffs could make it worse