Italy, an export-driven economy, has recently lowered its gross domestic product growth target to 0.6 percent for 2025, due to global uncertainties brought by the "reciprocal tariffs" of the United States.
Following the U.S. announcement of increased tariffs, the third largest economy in the European Union predicted its exports to the United States would reduce by 15 percent, if all the U.S. tariffs are implemented, which will result in a loss of 14 billion euro for Italy.
Sectors such as machinery, automobile, pharmaceuticals, agriculture, and fashion are expected to take the hardest blow of the U.S. tariffs.
Italy's Minister of Economy and Finance Giancarlo Giorgetti recently said that the country's economic performance could face challenges starting in the second quarter due to the U.S. tariffs.
The backlash against the U.S. tariff hikes has been swiftly widespread among Italian lawmakers and citizens.
Two Italian parliament members, Nicola Fratoianni and Angelo Bonelli, launched a mobile app designed to discourage the purchase of American goods. Available on Android and web platforms, the app allows users to scan product barcodes to identify their origin and advises against buying U.S.-made items.
The lawmakers also criticized the United States for its arrogant trade protectionism and called for conscious consumer choices to defend European economies and fair trade practices.
Since its launch, the app has recorded more than 40,000 scans.
Italy lowers its GDP growth target to 0.6 percent for 2025 amid US tariff threat
Italy lowers its GDP growth target to 0.6 percent for 2025 amid US tariff threat
Italy lowers its GDP growth target to 0.6 percent for 2025 amid US tariff threat
