An Inevitable Response, but at What Cost?
The European Union has decided to impose $26 billion in tariffs on American products, a crucial step in protecting the European market. However, this move could heavily impact Italian SMEs, which are the backbone of Made in Italy and highly dependent on exports to the United States.
The president of Unimpresa, Giovanna Ferrara, emphasized the importance of a strong EU response but also called for support measures to protect Italian businesses from the adverse effects of this commercial escalation. The risk is that Italian SMEs, already operating in a complex economic environment, may face further difficulties in expanding internationally.
The Strategic Role of Italian SMEs in Exports
According to the Unimpresa research center, Italian exports to the US remained strategically crucial in 2024, reaching a total of €67.3 billion. Italian SMEs contributed more than €7.2 billion, strengthening their position in key Made in Italy sectors.
The most affected industries include:
- Agri-food and wine, with a +7.3% growth compared to 2023;
- Fashion and textiles, which recorded a +10% increase;
- Furniture and design, with an +8.5% rise in exports;
- Jewelry, eyewear, and specialized metalworking, all crucial for Italian exports.
These figures highlight the essential role of Italian SMEs in the national economy and why protecting them from a trade war between the EU and the US is paramount.
The Need for Protective Policies
Given this scenario, Unimpresa has reiterated the urgency of support policies to counteract the negative consequences of protectionist measures. The quality, tradition, and innovation of Made in Italy must not be jeopardized without adequate safeguards.
The Italian government and the European Commission must ensure a compensation plan for SMEs to mitigate the impact of tariffs and allow businesses to continue competing internationally. Without targeted intervention, many Italian entrepreneurs risk seeing years of investment and hard work compromised.
What do you think? Do you agree with the EU’s response, or do you fear it might harm Italian businesses? Share your thoughts in the comment section below!
