US tariffs of 30% on EU goods could reduce Italy's GDP by up to 0.8% in 2027, according to Confindustria.

Confindustria warns that tariffs of 30% on Italian exports to the US could have a significant impact on Italy's economy, with an estimated 0.25% fall in GDP in 2023, rising to 0.82% in 2027. Italy, which exports machinery, pharmaceuticals and food to the US, is facing a delicate economic situation, with a consultancy firm estimating a loss of 1.4% of GDP in 2025-2026. Trade negotiations with the US continue and the EU is preparing measures to respond if tariffs are imposed.