U.S. President Donald Trump has threatened to introduce tariffs on European Union (EU) imports, which could hit the bloc’s companies and workers and require a strong response from the EU, Italian business groups say.
Trump has said his administration will immediately announce “reciprocal” tariffs of 25% on EU goods, including cars.
“This threat is not just about trade dynamics. The reality is much more dramatic. What comes from the American leadership is an attack on companies and jobs in Europe,” Confindustria president Emanuele Orsini said in a statement.
Industry Minister Adolfo Urso, a member of Prime Minister Giorgia Meloni’s Brothers of Italy party, struck a more conciliatory tone, saying a trade war must be avoided and urging unity among Western allies.
“Italy is certainly concerned about the possible escalation of tensions in the event of a trade war, as we are a major exporting country,” he said.
The governor of the Bank of Italy, Fabio Panetta, said this month that the full implementation of the tariffs threatened before the U.S. election, coupled with retaliatory measures, could cut EU growth by half a percentage point, with Germany and Italy most affected.
The European Commission said on Wednesday that the EU would act “firmly and promptly against unjustified obstacles to free and fair trade, including when tariffs are used to challenge legitimate and non-discriminatory policies”.
