Trump Tariffs Hit US Retail, Apparel Jobs, Global Exports

The Trump administration's tariffs in 2025 are significantly impacting global trade, with adverse effects on multiple industries. U.S. retail businesses are experiencing profit erosion as tariffs increase import costs, leading to higher consumer prices and squeezed margins, with studies showing a potential average household loss of $3,800 annually. The Indian apparel and textile sector faces a severe challenge due to a 25% U.S. tariff rate, higher than competitors like Bangladesh and Vietnam, risking over 2 million jobs and reducing India's competitiveness in the U.S. market. New Zealand's meat exporters are also affected, facing a 15% tariff compared to 10% for Australia and the UK, potentially costing an additional $300 million annually. These developments highlight the widespread economic strain and the challenges companies face adapting to the volatile trade environment under the Trump administration's policies.