USA Tariffs, Feltrin (FederlegnoArredo): "The USA is the leading non-EU market, but we must avoid a total confrontation"

In 2024, the United States continued to lead as the primary non-European market for furniture wood, with a +1.5% increase compared to the -10.6% drop in 2023. The 20% tariff on all European products announced by President Trump yesterday is a misguided and harmful move. However, it is crucial to avoid escalating into a total confrontation. This is the message Claudio Feltrin, President of FederlegnoArredo, delivered on the eve of the Milan Furniture Fair's opening following the US President's announcement. "The American market, in total, is valued at 2.8 billion euros, showing a +1.9% growth. North America, driven by the United States (+1.5%) and Canada (+6%), plays a key role in this recovery," Feltrin notes. "January 2025 will be pivotal, and we hope to see positive sentiment from entrepreneurs, which could lead to encouraging results in exports and furniture production. While the data remains preliminary, this month could offer an early sign of the 2025 outlook. However, the 20% tariffs on all European products announced by Trump threaten to alter the situation drastically. Prime Minister Meloni stated that this is a harmful measure that impacts both economies. We await further details on the US decision and potential European responses. The goal is to avoid a full-scale confrontation and instead seize the opportunity for a united, strong response from the European Union, as President Mattarella has called for," concludes Feltrin.