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Italy confident US-EU trade accord will echo the US-UK deal
Published by Global Banking & Finance Review®
Posted on May 22, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on May 22, 2025
2 min readLast updated: January 23, 2026
Italy is hopeful for a US-EU trade deal similar to the US-UK agreement, despite existing tariffs. Economy Minister Giorgetti remains optimistic.
ROME (Reuters) -Italy is confident the United States will agree to a trade deal with the European Union similar to the one Washington has already struck with Britain, Economy Minister Giancarlo Giorgetti said on Thursday.
The White House has imposed a 25% tariff on imports of steel, aluminium and cars, as well as a baseline 10% tariff on almost all countries, with additional "reciprocal" tariffs -- making for a combined 20% in the EU's case -- lined up if negotiations during a 90-day pause fail.
Earlier this month, U.S. President Donald Trump and British Prime Minister Keir Starmer announced a limited bilateral trade agreement that leaves in place Trump's 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports.
"It will be very difficult for the final agreement (between the EU and US) to be very different from the one made with the UK," Giorgetti told a conference in Trento, northern Italy.
He spoke via video link from Canada, where ministers from the Group of Seven advanced economies (G7) are meeting.
"The U.S. administration is reaching agreements, or is about to reach them with the United Kingdom and China. I am not saying that the European Union will be last, but I believe that reasonable results will be achieved in this case too," he added.
(Reporting by Giuseppe Fonte; Editing by Crispian Balmer)
Italy is confident that the United States will agree to a trade deal with the European Union that is similar to the one made with the UK.
The White House has imposed a 25% tariff on imports of steel, aluminium, and cars, along with a baseline 10% tariff on almost all countries.
Giorgetti mentioned that it will be very difficult for the final agreement between the EU and US to differ significantly from the one made with the UK.
U.S. President Donald Trump and British Prime Minister Keir Starmer announced a limited bilateral trade agreement earlier this month.
The G7 meeting is significant as it involves discussions among advanced economies, and Giorgetti spoke from Canada where the meeting is taking place.
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