US EditionTrump tariff threats hang over Italian fashion industry as a luxury slowdown hits
- The Head of Italy's Fashion Chamber has urged the government to protect the fashion industry from potential tariffs from the Trump administration, which could impact the country's second-largest industry.
- Fashion contributes 5% to Italy's GDP, generating 75 billion euros and employing 1.2 million people, according to a study by the State Development Bank CDP.
- Global sales in the fashion industry shrank by 5% in 2024, dropping to 96 billion euros from 110 billion euros in 2023, as reported by the Fashion Chamber.
- Italian National Fashion Chamber President Carlo Capasa expressed concern about Trump's tariff threats, stating, "If Trump penalizes the second industry in Italy, it is a pretty hostile declaration.
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Trump tariff threats hang over Italian fashion industry as a luxury slowdown hits
MILAN (AP) — The head of Italy’s fashion chamber said he has appealed to its government to protect the country’s second-largest industry from possible tariffs from the Trump administration. “We hope they don’t arrive,’’ Italian National Fashion Chamber President Carlo Capasa said Wednesday during the presentation of the calendar for the next Milan Fashion Week later this month. “If Trump penalizes the second industry in Italy, it is a pretty hos…
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