US Tariffs Threaten Italian Export Market, Confindustria Reports

Rome: The sale of Italian goods in the United States market is projected to decline by approximately 16.5 billion euros in the medium term, representing a 2.7% reduction in total exports, due to the new tariffs imposed by US President Donald Trump’s administration, the industry association Confindustria reported on Monday.

According to Ansa News Agency, Confindustria highlighted that the impact will be most significant for key sectors including motor vehicles, which will be the hardest hit, as well as food and beverages, machinery, and leather and footwear industries. The association noted that the losses will be further exacerbated by the indirect effects of decreasing exports to the U.S. from other EU countries, which will reduce the demand for Italian inputs.

Confindustria indicated that the overall consequence will be a 3.8% decline in manufacturing exports compared to a scenario without the new tariffs. The organization also warned that, in the long term, there will be a significant push to relocate some production to the U.S. in response to these changes.