US’s tariffs may lead in drop of millions of dollars of Italy’s exports
(MENAFN) A planned new round of U.S. tariffs could lead to a €38 billion (approximately $44.4 billion) drop in Italian exports and shrink the country’s GDP by 0.8% by 2027, Italy’s top industrial association warned on Monday.
The warning comes from a report released by the research arm of Confindustria, Italy’s main business federation, as concerns grow over increasing protectionist policies and their global economic impact.
U.S. President Donald Trump has threatened to raise baseline tariffs on EU imports to 30% unless a trade agreement is reached by the end of the month.
“A 30-percent tariff would be unsustainable for Italy,” the report emphasized, cautioning that such a measure would drastically cut trade volumes and have broader economic repercussions.
Ciro Rapacciuolo, a senior economist at Confindustria’s research center (CSC), said the tariffs could wipe out €38 billion in Italian exports—equivalent to 58% of exports to the U.S. and about 6% of Italy’s total export output.
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