Silvano Simone Bettini, president of Federmeccanica, expresses concerns about ongoing uncertainty in the wake of a rising global tariff from the US, which affects Italian businesses significantly.
In a recent interview, Silvano Simone Bettini, the president of Federmeccanica, voiced his frustration over the continuous unpredictability regarding US tariffs, specifically highlighting a shift from a 10% to a 15% global tariff emanating from the US. The interview sheds light on the relationship between Italian exports and the US market, where almost 70 billion euros of Italian goods are sold, 12.4 billion of which fall under machinery and equipment. These tariffs, according to Bettini, exemplify a recurring theme of uncertainty that businesses find hard to navigate.
Bettini points out that Italian entrepreneurs have been facing political instability and frequent government changes for years, adapting by developing resilience through daily innovations at their companies. This volatility has become a part of their business strategy as they deal with fluctuating currency values and constant market dynamics. Bettini also emphasizes that high-quality Italian brands are essential in retaining their market share and competitiveness in the face of these tariff challenges.
The implications of these tariff increases are significant not only for the Italian economy but also for broader European businesses that rely heavily on trade with the US. Bettini's plea for Europe to 'wake up' suggests a call to action for more cohesive policies and strategies to support manufacturing sectors across Europe while adapting to the unpredictable nature of international trade, particularly with the US.
