The city of Venice was once a major maritime power, dominating trade in the Mediterranean and imposing duties on foreign merchants. But Italian historians say it handled the issue of tariffs in a more careful way, as our correspondent Johannes Pleschberger reports.
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00:01Venice not only attracts millions of American visitors each year.
00:05The region is also one of Italy's top exporters to the United States.
00:10Manufacturers of Venetian specialties such as masks and knickers
00:14now fear heavy losses due to Washington's looming tariffs.
00:19We are worried because we have a big number of American customers.
00:25The city of Canals didn't always get the short end of the stick.
00:29Up until the 16th century, Venice dominated maritime trade,
00:33serving as a hub between East and West.
00:36For hundreds of years there was not a cargo passing through Venice
00:40without being duty here at the Dogana, Damar.
00:44As much as 70% of the former republic's revenue came from tariffs,
00:48which however had little in common with today's international trade conflict.
00:54Venice in fact considered tariffs a dangerous lever.
00:58says historian Luciano Petzalo.
01:01Trade was considered the wealth of the city.
01:07Tariffs had to promote exchange.
01:11That's why usually the Venetian government try to maintain tariffs as low as possible.
01:20Many businesses will hope that Trump administration comes to the same conclusion.
01:25I think it will be the markets that will stop this reckless, insane policy at some point.
01:35And while Venetian merchants continue to worry, the city's tourism industry is more optimistic,
01:43hoping tariffs will increase arrival numbers.
01:47In fact, higher US prices on Italian goods could motivate more Americans to shop right at the source
01:53during a visit to the floating city.
01:56Johannes Bleschberger, CGTN, Venice.
01:58Byron covenant, Venice.
01:59Johannes 1, 28themer 13 Teams
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