Looming U.S. tariffs on the European Union (EU) would have a significant impact on the Italian economy, according to an Italian professor of European policy.
On Wednesday night, U.S. President Donald Trump announced a near-universal tariff regime on imports to the U.S., shaking global markets and prompting a sharp downturn in international stock exchanges. Most European Union exports to the U.S. will now face a 20-percent tariff, with certain sectors -- including vehicles, auto parts, steel, and aluminum -- hit with even steeper 25-percent duties.
Commenting on the looming U.S. tariffs, Valentina Meliciani, director of the Luiss Institute for European Analysis and Policy at Luiss Guido Carli University, warned that sweeping Trump tariffs would threaten both U.S. and Italian economies.
"It's true that Italy's exports to the United States are quite high. Therefore, tariffs on EU products, including those from Italy, will have a negative impact on our economy. Of course, this will also have a negative impact on the U.S. economy," she stated.
As a member state of the EU, Italy in recent years has oriented its export flows toward non-EU markets, especially the United States, said a report released by the Italian National Institute of Statistics (ISTAT), noting that nearly half of Italy's exports were sold outside the EU, with around a tenth sold in the U.S.
Between 2019 and 2024, the U.S. market has seen a growing importance in almost all Italian manufacturing sectors. Italy's main exports to the U.S. include machinery, pharmaceutical products, cars and trucks, and beverages.
In 2024, Italy's trade surplus with the U.S. reached approximately 35 billion euros (about 37.94 billion U.S. dollars). Together with Germany's 85-billion-euro (93.1-billion-U.S.-dollar) surplus, the two countries account for about 70 percent of the European Union's overall trade surplus with the U.S., according to ISTAT's data.
U.S. tariffs to severely harm Italian economy: scholar
NPC Deputies from east China's Jiangsu Province vowed to make greater contributions to the overall development of the nation after Chinese President Xi Jinping joined them in group deliberations on Thursday.
Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, took part in the deliberation with his fellow deputies from Jiangsu during the fourth session of the 14th National People's Congress (NPC), China's national legislature.
During the discussions, deputies from various sectors shared their experiences and spoke on a wide range of topics, including agriculture, technological and industrial innovation, education and talent training, and rural governance.
"I felt extremely excited today to be able to meet face-to-face with the General Secretary and report to him on Huai'an's economic and social development over the past two years. In recent years, we have vigorously cultivated the development of the crayfish industry in line with the requirements for developing local specialty products. In Xuyi County, one-sixth of the population is engaged in this profession. When I reported to the General Secretary a moment ago, I shared some good news with him. The 'Xuyi No. 1' crayfish has achieved growth of more than 18 percent in both yield per mu (about 0.067 hectare) and individual weight. Crayfish farming has provided more employment opportunities for our labor force and promoted income growth for residents," said Shi Zhijun, secretary of the CPC Huai'an Municipal Committee.
"I reported to the General Secretary on the integration of technological innovation and industrial innovation. The General Secretary attached great care for Soochow University. For our emerging industries and future industries, one important focus is developing commercial aerospace. We are now working together with industry partners to address this issue, hoping that Soochow University will achieve coordinated development with Suzhou's social economy in the future, and make greater contributions particularly to developing new quality productive forces," said Zhang Xiaohong, Party Secretary of Soochow University.
"I reported to the General Secretary on the achievements our team has made in breeding wheat resistant to Fusarium head blight. We have successively developed highly resistant varieties including Yangmai 33 and Yangmai 53, covering two directions of high-quality wheat development. Chinese bowls must be filled with Chinese grain. We must continue our efforts to ensure stable growth of national grain production and guarantee food security," said Gao Derong, a researcher at the Institute of Agricultural Sciences for Lixiahe Region under the Jiangsu Academy of Agricultural Sciences.
"Today, I feel extremely honored and excited to report to the General Secretary on the changes and development of our Desheng Village over the years. The General Secretary inquired about Party organization building, industrial development, social development, and environmental governance. For rural areas, we must first develop industries so that people can benefit substantially from this process. Meanwhile, the building of civilized rural customs must be advanced in parallel," said Yang Hengjun, head of Desheng's village committee.
In the deliberation, Xi has called on economic powerhouses like Jiangsu to redouble efforts to gain experience in analyzing new situations and solving new problems.
Deputies say they will implement the General Secretary's instructions and strive to make new achievements. "Today, the General Secretary, on the one hand, spoke positively of Jiangsu's contributions as an economic powerhouse, shouldering heavy responsibilities during the 14th Five-Year Plan period. On the other hand, he put forward new requirements for Jiangsu in terms of developing new quality productive forces in line with local conditions to enhance economic resilience, and in continuously strengthening common prosperity for the people. As an NPC deputy, I will earnestly study and implement the General Secretary's important instructions upon my return, so that Huai'an's modernization process can advance on a more solid foundation," Shi said.
"Universities, especially research universities, as national strategic scientific and technological forces, must do well in basic research and application. As an important base for talent cultivation, we must establish mechanisms for integrated development of education, science and technology, and talent, and cultivate top innovative talents. We will implement the General Secretary's instructions through these efforts," Zhang said.
NPC deputies from Jiangsu vow to make greater contributions in national development
