Tariffs will trigger “billion of {dollars} of injury”, CIA says
5 March 2025
2 minute learn
US tariffs on European Union meals merchandise would trigger “billion of {dollars} of injury” for Italy’s prized agricultural exports together with Parma ham and Prosecco wine, Reuters reported, citing an Italian farmers’ foyer on Tuesday.
President Donald Trump has vowed to hit the EU and different international locations with tariffs in response to their commerce surpluses with america. New 25% tariffs on Mexican and Canadian imports and 20% duties on Chinese language items took impact on Tuesday.
“Billions of {dollars} of injury are foreseen for Italian meals, hurting not solely our nation, but additionally the wallets of Individuals who purchase our excellence and recognise its high quality and uniqueness,” mentioned Cristiano Fini, president of farmers’ foyer CIA, which represents 650,000 members and 170,000 corporations.
“Trump’s farmers won’t ever be capable of produce Grana Padano (cheese), Parma ham, Pecorino Romano (cheese), Prosecco, Brunello and all of the Made in Italy merchandise,” he added.
In 2024 Italy’s meals exports to the US rose to a worth of round 7.8 billion euros ($8.22 billion).
Italy reported an total commerce surplus with america final yr of 39 billion euros. The US is by far the highest non-EU vacation spot for Italian merchandise and the second total behind Germany.
Fini urged EU member states to take “diplomatic motion and a serious countermove to counter the disruptive impact of US duties on all EU merchandise.”
Final week Italian enterprise foyer Confindustria known as Trump’s tariff coverage an assault on EU trade and its workforce, and known as for a troublesome response.
Prime Minister Giorgia Meloni, a fellow conservative who has established a very good private relationship with Trump, mentioned his tariff threats run in opposition to Italy’s nationwide curiosity, however she has additionally cautioned in opposition to beginning an EU-US commerce battle.
($1 = 0.9489 euros)
