Relief for Italian shoe sector as US 25% duty threat lifts
The president of Italy’s national footwear industry body Assocalzaturifici, Siro Badon, has welcomed an announcement from the department of the treasury in Washington DC that the US will not impose trade actions against Italy and other European countries over a dispute about digital tax.
Austria, France, Italy, Spain, and the United Kingdom regarding the treatment of Digital Services Taxes (DSTs) during the interim period prior to full implementation of Pillar 1 of the Organization for Economic Co-operation and Development (OECD) agreement.
There had been a threat of import duties of up to 25% on shoes from Italy and other products going into the US market.
“International agreements that favour free trade are fundamental for Italy’s creative industries,” Mr Badon said. “Our companies are often caught up in battles like these because we are so representative of our countries.”
