Donald Trump’s 25 per cent tariffs may be the difference between life and death for some US companies

US president sent shock waves through global markets when he announced the 10 per cent levy on US$200 billion of Chinese goods would increase to 25 per cent.

In 25 years of working with American companies in the fashion industry, Karen Giberson does not remember a more challenging time – and it is about to get worse.

“We have had tough times before. 2008 when the markets crashed – we saw a number of our companies go through consolidation, some went out of business,” said Giberson, president of the Accessories Council, a trade group.

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