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Some of Italy’s leading industries feel the pressure hardest. In 2024, Italy exported about €65 billion to the U.S., making it the country’s top non-EU partner. Key sectors hurt by tariffs include agrifood, wine, spirits, fashion, furniture, and manufacturing equipment. For example, olive oil and Parmigiano Reggiano now face up to a 50% tariff, while wine exports; worth about €1.9 billion, are especially exposed. The fashion sector keeps prices stable by absorbing costs, but margins get squeezed. Some manufacturers are thinking of setting up U.S. operations to avoid those extra import charges. Prime Minister Giorgia Meloni stressed the uniqueness of Italian goods and pushed hard to protect them.
Industry groups and government leaders warned that these tariffs could drive up costs for consumers and damage Italy’s export economy. The business federation Confindustria called the effect “massive”. Some forecasts say Italy might lose as much as €20 billion in exports and 118,000 jobs if a 10% EU-wide tariff sticks. In Lombardy; a top exporting region; over half of companies are already planning responses. Roughly 18% are entering new markets, and 14% plan to strengthen U.S. operations. Beyond Italy, firms globally say these U.S. tariffs hurt business, cost shoppers more, and shake trade relationships.
To manage these challenges, Italian firms are taking several strategic steps:
1_Review pricing to keep profits while staying competitive.
2_Talk with U.S. retailers to share tariff burdens.
3_Explore U.S. partnerships or acquisitions to build products locally.
4_Watch ongoing exemption talks and adjust shipping plans accordingly.
5_On a legal front, some firms are checking their contracts for "force majeure" or hardship clauses that might help renegotiate prices or delivery duties under the Italian Civil Code.
