The Minister of Foreign Affairs and International Cooperation, Antonio Tajani, today chaired a meeting with representatives of Italy’s manufacturing sector to take stock of foreign trade trends and prospects for our exports, also in light of the start of Trump’s Administration in the United States.
The meeting was attended by representatives of the Italian System (ITA, SACE, SIMEST), trade associations (Confindustria, Federchimica, Confartigianato, Confagricoltura, Coldiretti, CONFAPI), and the Embassy in Washington.
The USA is Italy’s first trading partner outside the EU and the second destination market for Italian exports worldwide (10.3%). President Trump’s first decisions do not introduce new tariffs, but envisage a review by 1 April on many aspects of US trade policy. The meeting therefore focused on the actions that the Italian government may take in view of this deadline.
The discussion also focused on new markets towards which Italian promotional efforts should be directed, also in the light of the States General for Exports convened in December in Milan, focusing more on the diversification of exports in terms of goods and taking advantage of systemic missions and trade fairs. The Italian System has identified 14 main countries. As alternative markets on which to focus, the following ones were mentioned: Mercosur, a priority region worth 6 billion in exports; Asia, particularly India, Indonesia, and Vietnam; the Gulf countries (primarily Saudi Arabia and the United Arab Emirates); the Balkans, also for the opportunities that will open up with enlargement; and the target countries of the Mattei Plan.
Minister Tajani said: “The government is on the side of our businesses. I am certain that the ties of friendship that bind Italy and the United States will enable us to increasingly strengthen our dialogue with the United States, also in the area of trade policy. In the telephone conversation I had on Sunday with Secretary of State Rubio, I highlighted the importance of economic relations between our countries. But we are ready to support our companies to create new investment opportunities in other regions of the world.”
The topic of tariffs was in the background of yesterday’s discussions at the EU Foreign Affairs Council. Minister Tajani emphasised there that trade relations between the EU and the USA are very deep, that it is important to maintain a pragmatic, constructive and open approach, with the aim of finding solutions through dialogue, and that in the case of US tariffs it is important to react all together in a united way.
Concluding the meeting, Minister Tajani expressed his intention to work with a pragmatic approach, preparing actions and reactions to any changes in the international trade framework. Minister Tajani will reconvene the representatives of the trade associations on a regular basis in order to work together to evaluate the most useful tools to support Italian companies and exports.