Italy's Business Lobby Head: With US tariffs at 30% impact on Italy economy would be of 37.5 billion euros.

Italy's Business Lobby Head: With US tariffs at 30% impact on Italy economy would be of 37.5 billion euros.

Italy's business lobby has sounded the alarm, warning that the 30% tariffs announced by the United States on European Union imports could have a significant impact on the Italian economy, totaling around $37.5 billion. The Union of Italian Winemakers (UIV) and Coldiretti, an association representing European agricultural companies, have expressed concern over the potential price hikes and shortages of imported wine, cheese, and pasta for American consumers [1].

The Italian Foreign Minister, Antonio Tajani, has stated that if no deal is reached with the United States, the European Union has prepared a list of retaliatory tariffs worth €21 billion against U.S. goods [3]. This escalation in tariffs could lead to increased prices for cars and other vehicles produced in the E.U., as well as potential job losses and investment threats [1].

The U.S. was the top destination for E.U. exports in 2024, with medical and pharmaceutical products, motor vehicles, and machinery being the primary exports [1]. The tariffs could disrupt these supply chains, adding costs and complexity for businesses on both sides of the Atlantic [2].

The European Commission's top trade negotiator, Maros Šefčovič, has deemed the 30% tariff "absolutely unacceptable," stating that it is "prohibitive to any trade" [1]. Despite the escalation, the E.U. has delayed any countermeasures, but has more than $100 billion of retaliatory tariffs on standby [1].

Brazil, another major trading partner, has downplayed the impact of the tariffs on its economic growth, expecting minimal effects on 2025 growth [2]. However, the aerospace industry, which relies heavily on U.S. exports, may face significant challenges [2].

The Italian business lobby's warning highlights the potential economic impact of the tariffs on Italy, with the country's economy being significantly affected by the trade dispute. The situation underscores the need for a swift resolution to prevent further economic disruption.

References:
[1] https://www.nbcnews.com/business/business-news/eu-tariffs-set-raise-pasta-wine-prices-threatening-jobs-both-sides-atl-rcna218721
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3T80H9:0-brazil-downplays-impact-of-us-tariffs-on-2025-growth/
[3] https://www.fxstreet.com/news/italy-foreign-minister-says-eu-has-ready-a-list-of-retaliatory-tariffs-worth-eur21-billion-202507140541