
Uncertainty over trade tariffs challenges Italy-US economic relations
Italian exports to the US, exceeding €60 billion in 2024, face risks due to President Trump’s proposed tariff policies aimed at protecting domestic markets.
A key market for Italian businesses
The United States is a critical destination for Italian exports, especially in fashion, agri-food, precision mechanics, and pharmaceuticals. In 2024, key sectors achieved remarkable results:
- Agri-food: approximately €6 billion in exports.
- Precision mechanics: about €10 billion.
Between 2000 and 2024, Italian exports to the US grew by 192.7%, from €20.5 billion to €60 billion. Despite global crises, this growth highlights the resilience and competitiveness of Italian companies on the international stage.
Potential impacts of US trade policies
According to Unimpresa’s research center, new tariffs could pose several risks:
- Increased access costs: tariffs would burden Italian SMEs, reducing competitiveness.
- Supply chain delays: stricter regulations could disrupt timely deliveries, harming trust with business partners.
- Exchange rate volatility: political uncertainty may destabilize currency markets, affecting export profits.
- Demand reduction: aggressive protectionism might decrease US demand for imported goods.
Despite these challenges, Unimpresa President Giovanna Ferrara emphasized the need for diversification and innovation to mitigate risks. She also praised the role of Italy-US collaboration, fostered by the Italian government.
Strategies to maintain competitiveness
To ensure the resilience of Italian businesses in the US market, it is crucial to:
- Invest in technological innovation.
- Diversify export markets to reduce US dependency.
- Strengthen diplomatic relations, focusing on bilateral agreements.