Italy's exports under strain amid U.S. tariffs and currency headwinds

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  • Italy's exports under strain amid U.S. tariffs and currency headwinds

Rome   July 20
As a trade deal between the United States and the European Union (EU) remains unresolved, Italy is grappling with dual challenges: a new round of U.S. tariffs that could directly hit its export-reliant economy and a weakening U.S. dollar that effectively acts as an "implicit" tariff on Italian exports.
U.S. President Donald Trump has announced the decision to impose a 30 percent tariff on imports from the EU and Mexico starting Aug. 1, adding fresh uncertainty for Italian exporters who depend heavily on the American market.
According to Italy's National Institute of Statistics (ISTAT), Italy ranked as the EU's third-largest exporter to the United States in 2024, with shipments to that market accounting for 10 percent of its total exports, a share comparable to Germany and higher than France or Spain.
In 2024, Italy posted a trade surplus of 39 billion euros with the United States. Exports to the United States represent 22.2 percent of Italy's sales to non-EU countries, exceeding the EU average of 19.7 percent. Italy's top export sectors to the United States include beverages, automobiles, and other transport equipment, according to a report by Confindustria, Italy's major association representing manufacturing and service companies.

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