The impacts of Donald Trump's tariffs
on Italian companies will be mitigated by their qualitative
positioning and high profitability, the Bank of Italy said
Friday.
"The sectoral composition, qualitative positioning and good
level of profitability of Italian companies operating on the US
market could mitigate the consequences of the drop in demand
from the United States, at least in the short term", the Bank of
Italy said in its latest economic bulletin.
It said exports to the US, directly and indirectly, are worth
8.1 percent of the added value of Italian manufacturing and
approximately 1.2 percent of GDP and that, certainly, "in the
long term, exports will be affected by the effects of the
increase in tariffs" by the US president.
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