Tajani Promises Support for Firms Affected by US Tariffs

Rome: Deputy Premier and Foreign Minister Antonio Tajani on Monday assured that the government will provide assistance to firms that will be impacted by the newly imposed 15% US tariffs following Sunday’s trade agreement between the United States and the European Union.

According to Ansa News Agency, Tajani emphasized the necessity of supporting businesses by announcing a meeting at the foreign ministry later on Monday. The meeting will involve representatives from the business sector to discuss tariffs, share information with companies, and understand their needs to implement the export action plan effectively.

When questioned about the potential requirement for a corrective budget due to the tariffs, Tajani stated that the actual impact is still unknown. He further highlighted the importance of addressing the euro’s strength against the dollar.

Tajani urged the European Central Bank (ECB) to take action to lower the cost of money, noting, “We are at 2%. We can go as low as zero (interest rates) and we can consider quantitative easing to increase money circulation, reduce the euro’s strength, and enhance the competitiveness of our products. This would also create a beneficial reserve for industrial policy, healthcare, and security.”