The largest luggage producer in the world, Samsonite International SA, notes that trade war between the US and China influenced sentiments among Chinese consumers and will result in slower sales growth in the second largest market, Bloomberg reports.

Company expects that tariffs on luggage and other travel attributes will rise by 10% and will reach 30%, if the US will impose duties on the next list of Chinese products valued $200 billion.

This year was difficult for Samsonite, which is based in Massachusetts and trades its shares in Honk Kong. Company’s stock lost this year 14%.

Samsonite shares grew by 8,5% on Thursday. Net income in first half of this year was $67,8 million.

Company’s leaders predict sales growth slow down to 7%-9% from 10%, as new tariffs will cause price increase for buyers.

Samsonite has been transferring its production from China to Vietnam and Thailand, and going to continue to do so within its long-term strategy.