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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8 Articles
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Total News Sources8
Leaning Left4Leaning Right2Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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