Rome, July 21 (LaPresse) – "Italian goods exports declined in the second quarter (-3.6% in value in April-May compared to the first quarter), especially in non-EU markets (-5.7%), less so within the EU (-1.5%). The trade deficit with China is widening: our exports are falling, while imports are sharply increasing. Trade with the United States is still holding, but amid a climate of great uncertainty." This emerges from the flash report prepared by the Confindustria Study Center.
According to estimates by the Confindustria Study Center, "with tariffs at 30% on all products and the euro-dollar exchange rate at current levels, Italian goods exports to the US would decrease by around 38 billion euros, equal to 58% of sales in the US, 6.0% of total exports, and, considering indirect connections, 4.0% of manufacturing output. The increase in tariffs and the depreciation of the dollar would reduce the price competitiveness of European exporters compared to both US domestic producers and producers from less affected countries. The impact would be amplified by uncertainty in transatlantic relations and the slowdown of the US economy. The estimated effect is medium to long term, i.e., in the case of permanent tariffs (and when parts of production might shift to the US), because many Italian high-quality products are not easily substitutable in the short term, especially in large quantities."
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