“Following the announcement by the Trump administration on the imposition of new 20% duties on all European exports, I express great concern about the repercussions this decision will have on our companies and the fashion accessories sector.”
Confindustria Accessori Moda shares data on trade with the US: in 2024, exports to the US from the footwear, leather, tannery and fur sectors reached a value of almost €3 billion. Although this value contracted slightly by 3.5% compared to 2023, it continues to reflect the strength of Italian exports and the high appreciation for the quality of Made in Italy.
Ceolini continues: ‘Unfortunately, the introduction of the new duties will further undermine these results. The increase in costs for American consumers could, in fact, drastically reduce demand for our products, with negative consequences for our companies and jobs, which are a fundamental resource for our sector.
A trade war of tariffs will inevitably bring damage to both sides, harming businesses and consumers on both continents.
In this scenario, I renew Confindustria Accessori Moda’s call for Italy and Europe to unite to oppose this decision and protect the interests of our companies. The issue does not only concern Made in Italy, but the entire European Union, which is in danger of suffering significant damage.”
For the sector, already severely tested by economic difficulties and geopolitical uncertainties, it is very serious to have to face this additional obstacle: “We trust in a timely and effective intervention of the European institutions to protect the future of our companies and workers. We hope that, through the negotiations that Trump himself has mentioned, the situation can be resolved,’ Giovanna Ceolini concluded.
EXPORTS TO THE USA 2024: DATA BY SECTOR
Footwear: 1 billion 388 million euro (-4.9% compared to 2023)
Leather goods: €1 billion 216 million (-1.6%)
Tanning: €162 million (-4.1%)
Fur: €21 million (-11.9%)