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Italy has a strategy ready to safeguard its businesses in case the United States enforces tariffs and dispatched a delegation to Washington on Monday to address the issue.
“Today, a delegation I dispatched to Washington is meeting with American officials to address the tariff situation. They are working in coordination with the European Commission, which holds exclusive competence over trade agreements,” said Deputy Prime Minister and Foreign Minister Antonio Tajani to reporters on Monday.
That said, he added that: “We must wait to see if tariffs are actually imposed.”
Tajani explained that the government has a plan “to make sure Italian exports can continue to thrive.”
Along with pursuing dialogue with the United States—which could “involve increasing Italian imports and investments in the US,” he highlighted the importance of expanding “Italy's presence in other markets such as Mexico, Gulf countries, Indonesia, Japan, and Turkey.”
Italy is among the European nations with the highest trade surplus with the United States, which could make it more exposed to potential tariffs, Euractiv reports.
According to the latest data from Italy's National Institute of Statistics (ISTAT), Italian exports to the US reached €67.3 billion in 2023, while imports totalled €25.2 billion, resulting in a trade surplus of €42 billion.
Furthermore, a study by Confindustria's research centre highlighted the sectors most reliant on the US market, namely beverages (39%), motor vehicles (30.7%), other transportation equipment (34%), and pharmaceuticals (30.7%).
Despite concerns, several members of Italy's ruling coalition remain confident in the country's strong relationship with Washington.
“I believe Italy is well-positioned to engage in dialogue with the United States,” stated Deputy Prime Minister Matteo Salvini last week. “I think any dispute will involve the Germans, not us. We are not Trump's target,” he added.
However, as a member of the EU, Italy cannot negotiate trade agreements on its own. Tariff discussions occur between the US and the European Union, and under single market rules, no individual EU country can be exempt from tariffs applied to the entire bloc.
In addition, a senior diplomat told Euractiv that while Italy cannot be exempt from tariffs, there may be ways to mitigate the impact by focusing on sectors where Italy has less exposure. This approach could potentially benefit Italy over other EU countries that are more directly affected by the targeted industries.