Tariffs Have Deep Impact on Italy Warns Confindustria

Rome: Industrial employers federation Confindustria on Thursday warned tariffs have a highly significant economic impact on Italy. Tariffs are an “extremely distortive” tool and, in Italy’s case, the “economic connections are extremely deep”, said a note issued by Confindustria’s research centre.

According to Ansa News Agency, the note on “the new trade policy of the United States” highlighted that the US “are the first destination outside the EU for Italian exports of goods and services and the first in absolute terms for direct investments abroad”. In 2024, Italian goods were sold in the US for some 65 billion euros, generating a surplus of nearly 39 billion euros, said Confindustria.

The US market offered the highest contribution to the growth of Italian exports since before the Covid-19 pandemic.