Here is a 100-word summary of the article:
The fashion industry is reeling after President Trump’s announcement of new US tariffs on imported goods, including clothing and shoes. The tariffs, ranging from 31-49%, will hit global fashion brands, manufacturers, and emerging businesses hard, particularly those that source materials from Asia. Independent designers and brands that source fabrics and materials abroad will also be affected. The US, China, and the EU are engaging in a trade war, with China and the EU weighing retaliatory measures. Companies are advised to consider a comprehensive strategy to mitigate the impact, including pricing, merchandising, manufacturing, and cost-cutting. A business memo outlines possible measures.
