Published by Global Banking & Finance Review®
Posted on May 27, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleItaly's Confindustria urges the EU to expedite trade deals with Mercosur, Australia, and ASEAN amid US tariff negotiations.
MILAN (Reuters) -Italy's main business lobby Confindustria on Tuesday called on the European Union to speed up trade agreements with other countries while it negotiates on tariffs with US President Donald Trump.
Trump last week ratcheted up his trade war, announcing a 50% tariff on EU goods starting June 1. He later deferred the deadline to July 9 to allow for negotiations between Washington and Brussels.
"After updating the agreements with Chile and Mexico, the European Union must absolutely conclude the one with Mercosur", Confindustria President Emanuele Orsini said at an annual assembly in Bologna, referring to the South American bloc.
"Mercosur is not enough. That is why we must aim to reach agreements with Australia, make progress in our negotiations with India and the ASEAN countries, and look at the 54 African Union countries that have joined the free trade area", he added.
Orsini also called on the EU to allow derogations from its budget discipline rules not only for defence spending but also to back "a significant plan to support industrial investment across Europe".
(Reporting by Gianluca Semeraro, editing by Alvise Armellini)
Confindustria called on the European Union to speed up trade agreements with other countries while negotiating tariffs with the US.
Confindustria President Emanuele Orsini emphasized the need to conclude the agreement with Mercosur and pursue agreements with Australia, India, and ASEAN countries.
The US announced a 50% tariff on EU goods, which has prompted the EU to negotiate and seek faster trade agreements with other nations.
Orsini requested that the EU allow derogations from budget discipline rules to support industrial investment across Europe.
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