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Trump’s Tariffs Have Already Rewired the Global Fashion Industry

Brands and their suppliers have been forced to rapidly adjust to the new US duties, with the ripple effects set to continue into next year, according to the BoF-McKinsey State of Fashion 2026.
SoF 2026 Lead
US tariffs are reshaping global trade as higher duties push up costs across the value chain. (Gary Hershorn/Getty Images)
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After The State of Fashion 2026 report was finalised, the Supreme Court heard the US tariffs case, and many legal and policy experts are expecting the court to walk back or even fully rescind the tariffs in their current form. BoF will be monitoring the situation; stay tuned for updates and analysis.

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Further Reading

The State of Fashion 2026: When the Rules Change

The 10th annual State of Fashion report by McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, reveals how changes in trade, technology and consumer behaviour will challenge businesses in 2026. Download the full report to understand the 10 themes that will shape the industry and opportunities for growth in the year ahead.

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