Trump tariffs leave Italy's luxury furniture makers sitting uncomfortably

Furniture exhibitors successful Milan are acrophobic astir the interaction of US tariffs. Photo: Piero CRUCIATTI / AFP
Source: AFP

Even the astir sumptuous cushions cannot easiness the symptom that Italian luxury furnishings makers -- gathered astatine their yearly just -- tin already consciousness from US President Donald Trump's tariffs.

Some companies astatine the Milan Furniture Fair, which opened Tuesday, comparison the abrupt levies to a rampaging wrecking crew. But galore are besides determined to support offering their prestige output successful the anticipation that buyers successful the cardinal US marketplace volition instrumentality with them.

The United States is the Italian furnishings industry's second-biggest marketplace aft France, accounting for 2.2 cardinal euros ($2.4 billion) of its 19.4 cardinal euros of exports successful 2024, according to manufacture figures.

The "geopolitical" factors, specified arsenic the caller tariffs, "will surely person semipermanent repercussions," the fair's president Maria Porro told AFP.

About 10 percent of each Italy's exports spell to the United States, and Prime Minister Georgia Meloni volition spell to Washington connected April 17 successful a bid to easiness the interaction of the 20-percent tariffs imposed connected European Union products.

Some furnishings firms accidental it is excessively aboriginal to cognize however overmuch harm tin beryllium expected from the tariffs that person shaken planetary markets.

"We made it done Covid, we had the warfare successful Ukraine and mislaid Russian clients, but we survived," said Nicola Fagetti, concern manager of the Parma institution La Contessina, which prides itself connected producing a modern mentation of Italian renaissance styles.

A Google installation astatine the just is called 'Making the Invisible Visible'. Photo: Piero CRUCIATTI / AFP
Source: AFP

"We are present facing tariffs, but we ever find a solution," helium said stoically. US income relationship for 35 percent of his company's made-to-order exports.

Emmanuel Antonello, selling manager for Villari, a luxury marque whose tables tin outgo much than $20,000, is besides refusing to panic.

"The United States accounts for 20 percent of our exports, but we tin inactive number connected our income successful the Middle East, our superior marketplace with a 60 percent share," helium said.

And he's banking connected lawsuit loyalty crossed the Atlantic: "Americans are fascinated by Italian plan -- there's a 'Wow!' effect erstwhile they spot our products; for them, they're gems."

Absent Americans

But determination are fewer Americans roaming the just this year, portion they were the sixth-largest overseas contingent successful 2024.

"I volition suffer a batch of my clients. I deliberation the tariffs are going to beryllium enormously atrocious for trade," said interior decorator Allison Muir, a 48-year-old from San Francisco and a instrumentality of the precocious Italian decorator Gio Ponti.

"Italian plan tin truly unbend the caput and make a spot to truly reflect. And I deliberation that's what a batch of my clients are looking for successful the frenetic Silicon Valley," she said.

Upset with Trump's policies, she is considering leaving the United States and settling with her household successful Seville, Spain.

A diminution successful exports to France (-3.3 percent) and Germany (-6 percent) already helped resistance down the Italian furnishings industry's revenues past twelvemonth by much than 2 percent to 27.5 cardinal euros.

The just has shows and installations crossed Milan. Photo: Piero CRUCIATTI / AFP
Source: AFP

"Even though immoderate emerging markets are growing, specified arsenic the United Arab Emirates and Saudi Arabia, they are inactive incapable to marque up for accepted markets," said Porro, the fair's president.

Turning to trends astatine the 63rd variation of the Salone del Mobile, she said clients are progressively funny successful sustainability and a instrumentality to nature.

"In a play of instability similar the 1 we are experiencing now, radical similar natural, agleam and lukewarm shades," she said, adding that the borderline betwixt plan and creation is progressively blurred.

The elephantine show, unfastened until Sunday, has 2,103 exhibitors, with much than a 3rd from extracurricular Italy. Last year, it attracted 370,824 visitors from astir the world, a 20 percent summation connected 2023.

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Source: AFP