default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Italian Fashion Industry Hopes to Avert Additional US Tax

Carlo Capasa said that Italian luxury imports to the United States are currently taxed at an average rate of 20 percent.
By
  • Associated Press

MILAN, Italy — The president of the Camera Nazionale della Moda says he hopes that the US administration will see that taxes imposed on fashion imports are already high, and will resist assessing an additional levy as being proposed.

Carlo Capasa said Tuesday that Italian luxury imports to the United States are taxed at an average rate of 20 percent. He said that the fashion industry had been hoping to be able to do away with import taxes, "which are already high," as part of EU-US free trade talks that stalled before the U.S. presidential election.

Capasa said that the fashion chamber wasn't engaged in any discussions on the Republican proposal to impose a so-called Border Adjustment Tax on imports, because there was nothing concrete. But he emphasised that "fashion is already heavily taxed."

In This Article

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The BoF Sustainability Masterclass Series
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
The BoF Sustainability Masterclass Series