THE’European Union he denied that negotiations with the United States for a commercial agreement that avoids the entry into force of duties announced by Trump In April they can end by today. Brussels has slowed down the enthusiasm that had circulated in recent days, while Trump will send the letter during the day with the details of the measures that should be triggered in August.
In the meantime, Nomism He has published worrying data for the Italian agri -food sector. In case of duties, the consultancy company reports, every 10% of increase in customs tariffs on exports to the United States will cost the sector 500 million euros in sales in the USA.
No agreement on the duties between the EU and the USA
The spokesman for the European Commission responsible for trade, Olof Gillhas turned out the enthusiasm on a possible conclusion of the negotiation to achieve a commercial agreement between the EU and the USA to avoid duties. Brussels said he was ready to conclude, but answers are missing from the US:
Compared to yesterday, we remain completely ready to conclude an agreement in principle with the United States. We have no updates that indicate that this will happen imminently. There are no contacts expected in the next few hours, but everything can change at any moment.
The President of the United States Donald Trump He also announced that, today, a letter will also be sent to the EU with the details of the mutual duties, announced in April and postponed first to 9 July, and then to 1 August. The Trump’s strategy, which continues to postpone the actual entry into force of the duties, gave birth to the acronym Taco (Trump Always Chickens Out, Trump always pulls back).
The effect of duties on Italian agriculture
Just as the negotiations between the USA and the EU on the duties blocked, Nomism has spread a study that revealed very worrying data for Italian agri -foodin the event that Trump’s threats were actually transformed into customs duties. According to the consultancy company, every 10% of additional duties on Italian products risks costing the sector 500 million euros.
The president of Nomisma Paolo De Castro explained the situation:
The impact would in any case be heavy, if not even unsustainable in the event of even greater rates, but what worries most is the instability of the decision -making framework: Between announcements, extensions and continuous rethinking On rates, a climate of great uncertainty has been created for both Italian exporters and US importers.
The Italian food sector is already suffering, always according to Nomisma, due to the strengthening of the euro Compared to the dollar. Trump’s policies have removed international investors, who are focusing much more on the single currency. However, the effect is an increasingly stronger euro, which makes exports more difficult, but less expensive imports.
The new Trump duties
While the negotiations with the European Union are stalled, Trump has decided to relaunch on the duties, threatening, within a few days, a series of New rates to various countries and on different products.
The list of threats of the American president includes:
- 50% duties against Brazil for the trial against former President Bolsonaro, Trump’s supporter, who attempted a coup after losing his elections in 2023;
- an increase in duties to Canada and Mexico from 25% to 35% for goods excluded from commercial agreements;
- an increase in generalized bodies, from the current 10% to 15% or 20% for all countries that do not have a commercial agreement with the USA;
- 50% duties on copper imports;
- 200% duties on imports of pharmaceutical products.
