ROME: The effect of US tariffs on Italian companies will be massive, the head of national industry lobby Confindustria said today, calling for Europe to negotiate with US President Donald Trump and avoid further escalation.
Trump was poised to impose sweeping new reciprocal tariffs on global trading partners today, upending decades of rules-based trade, threatening cost increases and likely drawing retaliation from all sides.
Details of the so-called “Liberation Day” tariff plans were still being formulated and closely held ahead of a White House announcement scheduled for 4pm Eastern time.