With the U.S. as the largest non-EU market for Italian exports, tariffs imposed by President Trump could significantly impact sectors like wine, spirits, and furniture. Federvini, representing wine and spirits exporters, warns that such tariffs could cost Italy up to half of its U.S. market share
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00:00The United States is the largest non-EU market for Italian exports.
00:07According to Italian Prime Minister Giorgio Meloni, during the first two years since taking office,
00:12they have grown by over 15 billion euros.
00:15But what could happen if made-in-Italy products were targeted by Trump's tariffs?
00:19We put the question to Marco Simoni, who previously worked as an economic advisor to two Italian Prime Ministers.
00:25The impact on made-in-Italy would be very significant.
00:28Every year, in the United States, we export in the order of 70 billion.
00:33That's a lot of money, a lot of different types of products.
00:36So, of course, the tariffs would penalize it.
00:39It would sell less in America.
00:41And probably we would also buy less American things,
00:44because there would be tariffs, on the contrary, also on American products.
00:48Together with the furniture industry and food,
00:50wine experts would be among the main sectors affected by Trump's tariffs
00:54as the U.S. remains the largest importer of Italian wines.
00:58We are inside the Pallini factory,
01:00the world's leading producer of traditional Italian limoncello,
01:04a liqueur made from lemon infusion.
01:07Out of the 3 million liters produced here every year,
01:10around 25% is shipped to the United States.
01:15Federvini, representing over 2,000 companies, mainly wine and spirits exporters,
01:20has called for a de-escalation of tensions to avoid a full-scale trade war.
01:24Michaela Pallini is both the president of the Pallini family-run business
01:28founded 150 years ago in Rome and the president of Federvini.
01:32The United States is our main export sector for Italian wines and spirits.
01:40We are talking about 30% of the 2 billion exports,
01:47so the account is almost done.
01:50We could lose almost half of this large volume.
01:56This is a concrete risk.
01:59Despite her close ties with Trump,
02:01it would be difficult for Giorgia Belloni to be offered any shortcuts.
02:05It's good that Italy has this privileged relationship,
02:08but it won't be able to have an influence on any DAX.
02:12The DAX will be put in the hands of the European Union,
02:16not individual countries.
02:18We are members of the European Union
02:20and we negotiate any trade position as a European Union,
02:23not as a single state.
02:24Giorgia Orlandi for Euronews, in Rome.