Italian luxury furniture makers at the Milan Furniture Fair are feeling the effects of the new 20% tariffs imposed by US President Donald Trump on European Union products. The United States is Italy's second-largest market for furniture, accounting for 2.2 billion euros of its 2024 exports. This has left companies concerned about long-term repercussions, as noted by fair president Maria Porro, who stressed the "geopolitical" impacts of the tariffs.
Some manufacturers are cautiously optimistic. Nicola Fagetti, finance director of La Contessina, said, 'We made it through Covid, we had the war in Ukraine and lost Russian clients, but we survived,' adding that they always find solutions in tough situations. Emmanuel Antonello from Villari, whose products can cost over $20,000, expressed confidence that the US market would continue to appreciate Italian design, citing strong customer loyalty despite the tariffs.
However, the presence of American clients at the fair has noticeably declined this year, with some interior designers, like Allison Muir, expressing concern over the tariffs' potential to harm trade. Muir, upset with the policies, even considered relocating to Spain due to the strain on her business.
Despite challenges in traditional markets like France and Germany, emerging markets such as the UAE and Saudi Arabia are growing. Porro observed that the latest design trends at the fair reflect a growing interest in sustainability and natural aesthetics, with people seeking warmth and calm in times of instability.
Source: www.france24.com