With tariffs new opportunities in key markets for Italy
Tariffs favour trade agreements with emerging countries. Higher prices on Chinese products make Italian products more competitive
Key points
The fact that US tariffs have not had (at least so far) the impact many feared on the resilience of Italian exports is a fact observed by many analysts and also confirmed by many companies, corroborated moreover by the latest data on global trade (expected to grow in 2025) and on exports of Italian products to non-EU countries, which in September marked a rebound of 9.9% on an annual basis.
The most cautious observers say that it is still too early to understand the real extent of the effects of the tariffs imposed by Trump. However, a survey conducted by Assocamerestero among the Italian chambers of commerce abroad in ten key countries for the export of made-in-Italy products brings to light an aspect that has been little observed or little reported so far, namely the opportunities that could open up for Italian companies - particularly in certain sectors and on specific markets - as a result of the US tariffs.
The direct impact of tariffs
«Intendiamoci: le imprese italiane devono confrontarsi con un contesto molto complesso - spiega Domenico Mauriello, segretario generale di Assocamerestero -. Le ricadute dirette dei dazi sul prezzo di alcuni prodotti creeranno sicuramente delle difficoltà sul mercato statunitense. E al tempo stesso è innegabile che, in questo momento, la Cina rappresenti un problema su due fronti: come concorrente sul mercato europeo, visto che sta aumentando pesantemente le proprie esportazioni verso il nostro continente per compensare la chiusura del mercato americano. E come sbocco per i prodotti italiani, dato il rallentamento dei consumi da parte della popolazione cinese». Ma l’export non è come una partita a dama, in cui si spostano le pedine senza colpo ferire, osserva Mauriello: «Chi è già presente e ha investito in modo strutturale su questi mercati, non può disinvestire dall’oggi al domani: deve mettere in atto nuove strategie che possano consentire di contenere i danni o di restare competitivi».
Rather than diversifying markets, therefore, the advice is to diversify the way in which it operates in a given market. 'Assocamerestero, with its 80 chambers around the world, has precisely this role: that of intercepting the signals and trends that arrive in order to be able to advise and support companies in the process of internationalisation,' adds the secretary general.
Opportunities in nine key markets
And here comes the good news, so to speak, that emerged from the survey conducted among members in the United States, China, Germany, India, Japan, Singapore, South Korea, Canada, Brazil and Thailand. With the exception of China - which remains a strategic market in perspective and important for those with a direct presence for some time - almost all of the chambers of commerce abroad indicate 'significant opportunities in a wide range of sectors: agri-food, fashion and textiles, furniture and design, technology, energy and transition, mechanics and healthcare,' the study states.
