US TARIFFS / Confindustria Moda: "A severe blow to Made in Italy exports. European intervention needed."

The Trump administration's announcement regarding the imposition of new 20% tariffs on all European exports has sparked significant concern among Italian businesses, particularly in the fashion accessories sector. Giovanna Ceolini, President of Confindustria Accessori Moda, has voiced alarm over the potential economic repercussions of this decision. In 2024, exports to the United States in the footwear, leather goods, tanning, and fur sectors—industries represented by Confindustria Accessori Moda—reached a value of nearly 3 billion euros. Although a slight decline of 3.5% compared to the previous year, this figure confirms the strength of Italian exports and the global appreciation for the quality of Made in Italy. However, the introduction of these new tariffs could seriously jeopardize these results. "The increase in costs for American consumers could drastically reduce demand for our products, with negative consequences for our businesses and jobs in our sector," stated Ceolini. According to the President of Confindustria Accessori Moda, a trade war based on tariff impositions will only harm both parties involved. Italian businesses risk losing competitiveness in the U.S. market, while American consumers will face higher prices for high-quality products. "In this scenario, I renew the appeal of Confindustria Accessori Moda for Italy and Europe to unite in opposing this decision and protecting the interests of our companies. This issue concerns Made in Italy and the entire European Union, which suffers significant damage," Ceolini emphasized. The fashion and accessories sector faces challenges due to economic difficulties and geopolitical uncertainties. The introduction of additional trade barriers would further exacerbate an already delicate situation. For this reason, Ceolini calls for a swift and effective intervention from European institutions to safeguard the future of Italian businesses and workers in the sector. Despite the tensions, the President of Confindustria Accessori Moda remains open to dialogue: "We hope that, through the negotiations that Trump himself has mentioned, a solution can be found." It remains to be seen whether future diplomatic developments will help prevent a trade escalation that could significantly impact one of the most representative sectors of Made in Italy.