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. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump.

China is better equipped to respond to Donald Trump's proposed tariffs, despite past trade war experiences with high tariffs.

(Reuters) - Top executives at many U.S. companies are preparing for the impact from President-elect Donald Trump fulfilling his campaign promise of raising tariffs, a move that could disrupt supply chains and worsen inflationary pressures. Here is the commentary from some C-suite executives, mostly in the run up to the elections:

President-elect Trump is proposed a universal tariff of 10 to 20% and an additional tariff of up to 100% for imports from China, forcing American companies to pay for more goods. WBZ-TV's Laura Haefeli reports.

China is ready to go head-to-head with President-elect Donald Trump’s tariffs as he prepares to take back the Oval. If Trump pushes for tariffs as high as 60% on Chinese goods, Beijing isn’t about to sit back.