(ANSA) – ROME, JUL 21 – The CSC research unit of industrial association Confindustria said in a report on Monday that, if the US were to impose 30% tariffs on EU goods with the current euro-dollar exchange rate, Italian exports to the United States would fall by 38 billion euros, wiping out 58% of sales to the US and 6.0% of total exports.
It said “the level of Italian GDP in 2027 would be 0.8% lower than in the baseline path” in this scenario.
The report said the economic scenario is complicated and US threats of tariffs on EU goods have “raised uncertainty and eroded confidence”.
It said that this and the devalued dollar made for bad news for exports, consumer spending, investments.
It said there was some good news in the partial revival of oil prices, contained inflation and interest rate cuts in the Eurozone.
“Italian industry appeared stagnant in the second quarter, while services only grew slightly,” it said. (ANSA).
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It said “the level of Italian GDP in 2027 would be 0.8% lower than in the baseline path” in this scenario.
The report said the economic scenario is complicated and US threats of tariffs on EU goods have “raised uncertainty and eroded confidence”.
It said that this and the devalued dollar made for bad news for exports, consumer spending, investments.
It said there was some good news in the partial revival of oil prices, contained inflation and interest rate cuts in the Eurozone.
“Italian industry appeared stagnant in the second quarter, while services only grew slightly,” it said. (ANSA).
Read article…
