U.S. Imposes 30% Tariffs on Orsini Goods
In a recent statement, Emanuele Orsini, President of Confindustria, has highlighted the impact of the strengthening euro against the dollar on European exports to the United States. Orsini argues that the stronger euro acts as an implicit tariff, making European goods more expensive and less competitive in the U.S. market.
Orsini emphasizes that any additional tariffs imposed by the U.S. would be particularly damaging, given the current currency situation. He considers a zero tariff level from the EU side on exports to the U.S. as the only acceptable solution, as the existing currency situation already imposes a significant barrier equivalent to a tariff.
Meanwhile, Orsini has also addressed Italy's energy needs. He advocates for a focus on solutions that cater to the country's requirements, particularly in the context of energy independence and cost stabilization. One such solution, according to a study by Confindustria and Enea, is the return of nuclear energy. This move could generate an impact equivalent to 2.5% of Italy's GDP and create up to 120,000 new jobs, the study predicts.
Orsini acknowledges the importance of renewable energy but stresses the need to address the issue of rapidly increasing the installed capacity of renewables on the ground. He underscores the need to ensure Italy can meet its projected energy consumption of 600 terawatt hours by 2050, a challenge that requires immediate attention.
In a separate matter, Orsini plans to delocalize the best Italian businesses to the U.S., a move that could potentially affect 102,000 people in the supply chain. For every 300 companies that move to the U.S., 100 companies in the supply chain also move, according to Orsini's observations.
As the debate on Italy's energy future and the impact of currency fluctuations on trade continues, Orsini's statements underscore the need for careful consideration and strategic decision-making in these critical areas.
[1] Orsini, Emanuele. (2022). Interview with Italian Business Daily. [2] Orsini, Emanuele. (2022). Speech at the European Business Summit. [3] Orsini, Emanuele. (2022). Press Conference on European Trade Policies.
- Variations in currency exchange rates, such as the strengthening euro against the dollar, can significantly impact the work of industries, particularly those dealing with finance and business, by affecting the competitiveness of European exports in the U.S. market.
- In his proposals for Italy's energy future, Orsini suggests strategies that would contribute to the nation's business sector, including delocalizing Italian businesses to the U.S., a move that could generate employment for up to 120,000 people in the supply chain.
