Tony Loeb

💸 President Donald Trump announced on April 2, 2025, a new set of tariffs to shake the global economy, targeting international trade imbalances and protecting U.S. manufacturing and workers. A 10% base tariff on all U.S. imports starts on April 5, while a harsher 20% tariff on European Union exports applies from April 9, severely impacting Italy and the EU's economies. The Italian agri-food sector, pivotal in U.S. exports including wine, olive oil, cheese, pasta, preserves, and sweets, faces a significant challenge as these tariffs could lead to reduced demand and exports, affecting the market share and revenue of Italian food & beverage companies. The U.S. is one of the main markets for Italian excellence, with potential substantial turnover reductions due to higher consumer costs. Key figures express serious concerns about the impact on competitiveness and call for political and diplomatic actions to mitigate the effects. U.S. consumers may face fewer choices and higher prices, while Italy and Europe risk production and employment crises. The trade policy has been critiqued for potentially slowing U.S. growth and escalating trade wars.