MILAN — The leader of Italy’s fashion chamber has reached out to the government, urging them to safeguard the nation’s second-largest industry from potential tariffs proposed by the Trump administration.
“We hope these tariffs do not come into effect,” stated Carlo Capasa, President of the Italian National Fashion Chamber, during the unveiling of the upcoming Milan Fashion Week calendar. “Should Trump impose penalties on our crucial industry, it would signal a rather aggressive stance.”
The fashion sector contributes significantly to Italy’s economy, accounting for around 5% of the GDP, with a total worth of approximately 75 billion euros (about $78 billion). This sector encompasses the manufacturing and sale of textiles, clothing, and footwear and supports around 1.2 million jobs, as highlighted in a study by the state development bank, CDP, released last December.
The looming threat of tariffs from U.S. President Donald Trump has sparked concerns within the industry, particularly as it faces global challenges that have already led to a 5% decline in sales over the last year. The sector saw revenue shrink from 110 billion euros in 2023 to 96 billion euros in 2024, according to the fashion chamber’s report. The sales figures also encompass categories beyond textiles and clothing, including jewelry, eyewear, and leather products.
While Trump has suggested the possibility of levying tariffs on European imports into the United States, specific plans have yet to be communicated.
Italy’s luxury fashion exports to the U.S. reached 4.6 billion euros in the first ten months of the previous year. This category includes apparel, footwear, leather goods, jewelry, and eyewear, positioning the U.S. as the third-largest market for Italian luxury fashion, following France and Germany, which recorded sales of 7.6 billion euros and 4.7 billion euros, respectively, during the same timeframe.
Fashion exports overall during this period increased by 2.5%, totaling 91 billion euros, according to data from the fashion chamber.
Despite the downturn in global sales, the Italian fashion industry remains resilient, outpacing pre-COVID-19 pandemic figures, with sales recorded at 90 billion euros in 2019.
