ROME – Italy has a plan in place to protect its businesses should the United States impose tariffs and on Monday sent a delegation to Washington to discuss the tariffs.
“Today, a delegation I dispatched to Washington is meeting with American officials to address the tariff situation. They are working in coordination with the European Commission, which holds exclusive competence over trade agreements,” Deputy Prime Minister and Foreign Minister Antonio Tajani told reporters on Monday.
However, he noted that “we must wait to see if tariffs are actually imposed.”
The government, Tajani explained, has a project “to make sure Italian exports can continue to thrive.”
In addition to seeking dialogue with the United States — which may “involve increasing Italian imports and investments in the U.S.” — Tajani emphasized the need to strengthen “Italy’s presence in other markets such as Mexico, Gulf countries, Indonesia, Japan, and Turkey.”
Italy is one of the European countries with the largest trade surplus with the United States, potentially making it more vulnerable than others in the event of tariffs.
According to the latest available data from Italy’s National Institute of Statistics (Istat), Italian exports to the U.S. totaled €67.3 billion in 2023, while imports stood at €25.2 billion, resulting in a trade surplus of €42 billion.
An analysis by Confindustria’s research center identified key sectors most exposed to the U.S. market: beverages (39%), motor vehicles and other transportation equipment (30.7% and 34%, respectively), and pharmaceuticals (30.7%).
Despite concerns, several figures in Italy’s ruling coalition remain reassured by the country’s strong ties with Washington. “I believe Italy is well-positioned to engage in dialogue with the United States,” said Deputy Prime Minister Matteo Salvini last week. He added, “I think any dispute will involve the Germans, not us. We are not Trump’s target.”
However, as an EU member state, Italy cannot negotiate trade deals independently. Tariff discussions take place between the U.S. and the European Union, and under the principles of the single market, no individual EU country can be exempt from tariffs imposed on the bloc.
A senior diplomat told Euractiv that while Italy cannot be exempt from tariffs, there may be ways to shield the country by targeting sectors to which Italy is less exposed, thereby minimizing the impact. This could potentially favor Italy over other EU countries more directly affected by those targeted sectors.
(Alessia Peretti | Euractiv.it)