President Donald Trump announced significant changes to U.S. tariffs, introducing a universal 10% baseline tariff and higher individual tariffs on major trading partners, effective April 5 and April 9, respectively. Notably, China faces a 34% tariff, Vietnam 46%, and Bangladesh 37%. Additionally, the de minimis exemption for goods from China and Hong Kong will end on May 2, imposing duties on low-value items. Experts express concern that these tariffs will disproportionately affect the fashion industry, increase costs for consumers, and limit production options in the U.S. while failing to boost domestic manufacturing.

Source: https://www.supplychaindive.com/news/trump-tariffs-reciprocal-de-minimis-fashion-reacts/744406/