Trump's tariffs

The impact

Tariffs: from automotive to agribusiness, here are the sectors most affected by Trump

Coldiretti estimates that the Italian agri-food industry could suffer losses of more than EUR 2.3 billion.

by Rome Editorial Staff

13 July 2025

Dazi, Trump invia una lettera all'Ue: tariffe al 30% dal 1° agosto

3' min read

3' min read

As of 1 August, if confirmed, new US tariffs of 30% on European products threaten to hit strategic sectors of the EU economy. The measure, announced by Donald Trump to correct the 'trade imbalance' to the disadvantage of the US, threatens to hit exports worth hundreds of billions hard. The EU, which traded €1.680 trillion in goods and services with the US in 2024, fears systemic repercussions and is preparing countermeasures.

Farmaceutica

Pharmaceuticals represent the largest item of European exports to the US, accounting for 22.5% of the total in 2024. For now, they are exempt from the announced tariffs, but the sector remains on high alert. Some companies have already started to strengthen production on US soil, while asking the EU for a simplification of the rules to remain competitive in an increasingly unstable global environment

Automotive

Europe's automotive industry is among the most exposed: in 2024, the EU exported some 750,000 vehicles worth 38.5 billion euros to the United States. Leading the exports are mainly German brands such as BMW, Mercedes, Porsche and Audi. The American market accounts for almost a quarter of Mercedes' turnover, which also produces SUVs for export there. Meanwhile, Volkswagen has already recorded a sharp drop in deliveries to the US after the first waves of tariffs.

Aeronautica

The industry is already subject to tariffs of 25% on steel and aluminium and 10% on finished products, such as aircraft. Airbus and Boeing had called for the removal of customs barriers at the Le Bourget show in June to safeguard global market equilibrium, but the new squeeze risks exacerbating production costs and curbing transatlantic orders.

Cosmetici

European perfumes and cosmetics, particularly French and Italian, are also in the crosshairs. L'Oréal made 38% of its 2024 turnover in the United States and imports most of its luxury products (Lancôme, Armani, Yves Saint Laurent). The group is considering an increase in local production, but does not rule out consumer price increases to cope with the new taxation.

Lusso

For the industry, the risk is to see a key market eroded: Lvmh gets a quarter of its turnover from the US, 34% for wines and spirits. Bernard Arnault has called for a negotiated solution and even proposed a transatlantic free trade zone. Hermès had absorbed the previous 10% tariffs by raising prices, but a 30% increase could make its iconic products unaffordable for some American customers.

Agroalimentare

It could be the hardest hit sector, especially Italian and French. Coldiretti speaks of a "blow" for Made in Italy: with the new tariffs, price increases would reach 45% for cheeses, 35% for wines and 42% for preserves and jams. French viticulture is also sounding the alarm: the USA is the leading foreign market, with exports worth EUR 3.8 billion in 2024.

According to a Coldiretti estimate, the 30% tariffs on European products could cost US households and Italian agribusiness more than 2.3 billion euros. To the immediate damage in terms of a probable drop in exports would be added that caused by the lack of growth, with Made in Italy food in the USA aiming to surpass the 9 billion euro mark this year, after having reached a record value of 7.8 billion euro last year, thanks to a 17% increase in sales compared to 2023, according to Coldiretti analysis based on Istat data.