The American policy on duties, America First Trade Policy, announced in recent days by the Trump administration, risks having heavy repercussions on European and Italian industry, as noted in a recent note from Confindustria (‘The new trade policy of the United States: scenarios and channels’). ‘More aggressive and unpredictable than the approach adopted in the first term – observes the document from the Centro studi di Viale Ast ronomia – it threatens a protectionist escalation that could redesign the geography of world trade’. The new US president announced at the beginning of February additional tariffs of 25% on imports from Canada and Mexico, which were then suspended for a month, and 10% on those from China, which came into effect with immediate effect, in addition to the reintroduction of tariffs at 25% on all foreign purchases of steel and aluminium, which had been suspended in 2021 for a group of countries considered friends, including ours. The United States is the top non-EU destination for Italian exports of goods and services and the top destination for direct foreign investment. In a nutshell, this means sales of goods made in Italy worth 65 billion euros, generating a surplus of almost 39 billion.

Source: https://www.polimerica.it/articolo.asp?id=33341