Premier Giorgia Meloni met with a ministerial taskforce on Thursday to discuss the US tariffs announced by President Donald Trump. She cancelled her engagements for the day to coordinate Italy’s response, sources said.
Economy Minister Giancarlo Giorgetti, Business and Made in Italy Minister Adolfo Urso, Agriculture Minister Francesco Lollobrigida, European Affairs Minister Tommaso Foti, and Deputy Premier and Transport Minister Matteo Salvini participated. Deputy Premier and Foreign Minister Antonio Tajani joined via video link, according to sources.
On Wednesday, Meloni criticised Trump’s decision to impose 20% duties on EU goods. She vowed to work towards an agreement to prevent a trade war.
“The introduction of tariffs by the United States against the European Union is a measure that I consider wrong and that does not benefit any of the parties involved,” the premier’s office said in a statement.
“We will do everything we can to work towards an agreement with the United States, with the goal of averting a trade war that would inevitably weaken the West to the advantage of other global players.
“In any case, we will, as always, act in the interest of Italy and its economy, also by coordinating with our European partners.”
EU response designed to stifle a full-on trade war
Foreign Minister Antonio Tajani said on Thursday that the EU would likely respond less harshly than the US tariffs. Trump’s decision to impose 20% duties on EU goods had sparked concerns.
“I believe that we will go in the direction of having a less harsh response than the American choice, therefore to send a message against the escalation of tariffs, a message against the trade war: it seems to me that (Trade) Commissioner (Maros) Sefcovic’s positions are reasonable and go in the direction of protecting Italian and European companies,” said Tajani at a NATO ministerial meeting.
Italy is calling for a “deregulation shock” in response to Trump’s tariffs, Business and Made in Italy Minister Adolfo Urso said in parliament.
“Against the tariffs, we ask the EU to act immediately and suspend the Green Deal rules that led to the collapse of the car industry, to implement a deregulation shock that eliminates constraints for European companies, to support buy European, to give preference to Made in Europe in procurement, and to encourage free trade to open up to other alternative markets,” he said.
“In the coming days, we will meet with business associations to evaluate possible countermeasures.”
Urso added: “We are the most prepared, we have prepared Europe, it is Italy that is leading the process in Europe, this is why everyone comes to Rome.”
He also said: “First of all, we have to evaluate. From what emerged yesterday, the tariff measures against European goods are equal to 20%. Lower than those of other countries.
“Which means that there are risks that we must avoid, but there are also new opportunities. Because if the barriers are raised higher for other countries exporting to the United States, evidently several opportunities also open up.
“We have to evaluate – and this is demonstrated by what has happened in these four to five years. Because Italy, in contrast to what has happened to other countries, has gained positions at a global level. We have become the fourth exporting country, overtaking Japan and South Korea. What does this tell us? That the Italian entrepreneurial system, due to its peculiarities, is more resilient and more dynamic in averting risks and seizing new opportunities.”
Urso called for “calm and caution” in weighing responses to the tariffs.
“Bad choice” but not a catastrophe
Premier Giorgia Meloni said Trump’s tariffs were a bad choice but not a catastrophe. She confirmed that the government would meet business leaders next week to evaluate a response.
“I think the choice of the United States is a bad choice, which does not favour either the European or American economy, but I also think that we should not fuel the alarmism that I am hearing in these hours,” Meloni told Italian TV after a government meeting on the tariffs.
“The United States market is an important market for Italian exports, it is worth 10% of our total exports and we will not stop exporting to the United States.
“It means that obviously we have another problem that we must solve, but it is not the catastrophe that some are talking about,” she told Tg1.
She added: “We are doing and must do a study on the real impact that this choice of American duties has on each sector. Next week, we will meet with the representatives of the production categories to also compare with the estimates they have, to look for the best solutions.”
Meloni also said Italy would propose a revision of the EU’s Stability and Growth Pact. “It is possible that not everyone will agree, but we must do this,” she said.
Parmesan consortium calls tariffs “absurd”
The Parmigiano Reggiano Consortium called the new US tariffs “absurd.”
“We are not in competition with local (US) cheeses at all,” said Parmigiano Reggiano Consortium President Nicola Bertinelli.
“They are different products that have different positioning (on the market), different production standards, quality, and costs.
“So it is absurd to target a niche product like Parmigiano Reggiano to protect the American economy.”
The tariffs on the cheese have risen from 15% to 35%.
“This news certainly does not make us happy, but Parmigiano Reggiano is a premium product and the increase in price does not automatically lead to a reduction in consumption.
“We will work to try to make people understand why it makes no sense to apply duties to a product like ours that is not in real competition with American parmesans.
“We will roll up our sleeves to support demand in what is our top foreign market and which today represents 22.5% of the total exports.”
Wine sector facing serious annual loss
Italy’s wine sector also faces an estimated annual loss of €323million due to the tariffs, the Italian Union of Wines (UIV) said.
“With these bloody American duties at 20%, the sector will have to cut its revenues by €323million per year, or see much of our output eliminated from the market,” said UIV President Lamberto Frescobaldi.
“So, UIV is convinced that it is necessary for our companies to make a pact with our overseas commercial allies, who profit more than us from imported wines; we need to share the burden of the extra cost and avoid passing it on to consumers.
“It will be difficult for many (companies).
“But what is even more frightening today is the prospect of a lethal game of upping the stakes by the American and European administrations.
“It is fundamental that the EU accepts Foreign Minister Tajani’s proposals to exclude alcoholic beverages, and therefore wine, from any disputes.”
