Tariffs, Tajani sees companies: '15% high but sustainable, negotiations still ongoing on details'

The opposition goes on the attack against the government over the agreement reached between the US and the EU on tariffs. But for Foreign Minister Antonio Tajani it is an "agreement that closes a season of uncertainty and prevents a trade war. Then,' he adds, 'we will have to see in detail the advantages and disadvantages and the conclusion of the agreement sector by sector. Tariffs are never a positive element, but tariffs at 15% are an absolutely sustainable percentage for the system of Italy and the EU. We have always supported the work of the EU Commission and we are very happy that it has done its job'. He announced the setting up of a permanent task force on tariffs at the Farnesina to provide support to companies during the afternoon meeting with business representatives, to whom he explained how negotiations with US counterparts would go ahead in the coming days to better define the details in some sectors, including some of specific interest to Italy, such as the wine-growing sector.

"We are convinced that 15% despite being a high tariffs is somehow sustainable, the risk was to have a worse situation, I hope that in the end there will be pharmaceuticals and also wines in it, this could be useful for everyone, the negotiation is still ongoing on the details," Foreign Minister Antonio Tajani told the companies during the meeting at the Farnesina.

For the leader of Forza Italia, 'support for companies absolutely must be given' and he announced a meeting to be held on the afternoon of 28 July at the Farnesina 'with all the representatives of the business world to talk about tariffs, to inform companies and to find out from them what is needed to support them and apply the export action plan'.

 A corrective manoeuvre because of tariffs? "We still don't know the real effect," replied the blue deputy prime minister. In his view, now 'we need to talk about the euro-dollar relationship. This is the knot to tackle and I continue to call for an intervention by the ECB' to 'reduce the cost of money again. We are at 2 per cent, we can even go to zero. And we can think about quantitative easing" to "have more money in circulation". In short, for Tajani, it is necessary to "reduce the strength of the euro and make our products more competitive" and then "to make a small treasury useful for industrial policy, health and security.

"What the EU reached with Trump is not a good agreement as the Meloni government claims. It has the traits of a surrender to American impositions, due to the fact that the Italian government, together with other nationalist governments totally subordinate to Trump, have pushed for a soft and condescending line that has undermined European unity and weakened the EU's negotiating position," comments PD secretary Elly Schlein. Who adds: "The 15% tariffs without any reciprocity on the vast majority of Italian products, combined with the devaluation of the dollar, will lead to damage to be carefully estimated but according to initial estimates exceeding 20 billion in exports and over a hundred thousand jobs at risk. Add to this the commitment for more European purchases of energy and armaments in the USA amounting to 750 billion, plus 600 billion in investments by European companies in the USA".