The European Union will begin applying duties to a list of US goods from 15 April, Italy’s foreign minister confirmed Monday. Antonio Tajani, who also serves as deputy prime minister, said the list would be finalised between Monday evening and Tuesday.
“There will be a list of American products on which to apply duties, effective 15 April,” Tajani told reporters in Luxembourg. “It’s an old frozen list. I asked for a postponement but the prevailing position is to start on the 15th.”
Asked if whiskey would be affected, Tajani replied: “I asked that it not be on the list.”
He added, “Let’s say that I am moderately optimistic,” while noting that a second wave of countermeasures is due on 15 May.
“Between now and the 15th there is still time for negotiations,” he said.
Italy supports European Commission
Tajani stressed Italy’s strong support for the European Commission as it prepares its response to US President Donald Trump’s tariff hikes.
“We must work to avoid a trade war, which would be disastrous for the US and our companies,” he said.
Speaking before an EU Trade Council meeting, he added: “We have to negotiate. The EU has to negotiate united. Italy will support all the initiatives of Commissioner Sefcovic, in whom we have extreme trust,” he continued.
Tajani, leader of Forza Italia, also said the Italian government would not undermine the Commission’s efforts.
Meanwhile, speculation is growing that Premier Giorgia Meloni may travel to Washington to meet Trump at the White House. Meloni enjoys good relations with Trump and may attempt to act as a bridge between Brussels and Washington.
On Monday, she was due to hold a taskforce meeting with key ministers affected by the tariffs, including Tajani and Matteo Salvini. Salvini, who is also deputy prime minister and transport minister, heads the League party.
Meloni has already said she will call on the EU to revise the Green Deal in response to Trump’s measures. She also wants the EU to suspend certain rules affecting the auto sector while the duties remain in place.
Milan’s Borsa opens day badly
Financial markets reacted strongly on Monday to the deepening trade tensions between the EU and US. Milan’s FTSE Mib index shed 7.4% at opening, following losses of 6.53% on Friday and 3.6% on Thursday.
Trading in several stocks, including aerospace firm Leonardo, was delayed due to excessive pressure. Banking shares suffered steep losses. BPER dropped 11%, while Popolare di Sondrio, Unipol and MPS all fell by 10%.
