US Imposes 30% Tariffs on Orsini Goods
In a recent speech at the NucleareFuturo conference held in the Chamber of Deputies, Emanuele Orsini, President of Confindustria, emphasized the urgent need for Europe to act swiftly in order to compete effectively with other economies. Orsini expressed concern that if Europe does not act quickly, it may become uncompetitive compared to other economies.
One area where Europe needs to act, according to Orsini, is in the energy sector. He clarified that both renewable energy and nuclear power are needed to fill the energy gap in Italy. Orsini urged Europe to intervene strongly and protect its industry, stating that Italy's consumption of energy will reach 600 terawatt hours by 2050.
A study by Confindustria and Enea estimated that new nuclear power could generate an impact equal to 2.5% of Italy's GDP. Orsini suggested starting from the needs of the country when considering energy solutions, and he proposed an operation to bring Italy's best businesses to the U.S. This operation, intended to help 100 companies in the supply chain and bring 102,000 people to the U.S., could create up to 120,000 new jobs and strengthen Italy's energy independence.
Orsini also expressed concern about the impact of tariffs on European exports. If the tariff were 20%, the impact would be 27.6 billion euros, at 15% 22.6 billion, and finally at 10% 17.6 billion. Orsini called for the U.S. to understand that the exchange rate between the euro and the dollar is equivalent to a tariff for Italy, costing an additional 13%. He stressed that one cannot consider tariffs in isolation but must also account for the currency cost component, which already disadvantages European exporters.
Orsini urged not to give up on the path of returning nuclear energy, stating that it is necessary for Italy to maintain its competitiveness in the energy sector. He called on Europe to "wake up" and move quickly to remain competitive, emphasizing the need for Europe to act quickly and compete effectively with other economies. Orsini's message is clear: Europe must take action now to remain competitive in the global economy.
[1] Source: Orsini's speech at the NucleareFuturo conference in the Chamber of Deputies. [2] Source: Confindustria and Enea study on new nuclear power in Italy.
- In his speech, Orsini highlighted that Europe needs to protect its industry, and he suggested an operation involving 100 businesses in the supply chain to strengthen Italy's energy independence, potentially creating up to 120,000 new jobs in the finance and business sectors.
- Orsini warned that if Europe does not act swiftly, tariffs on European exports could significantly impact their competitiveness in key industries, such as finance and business, costing up to 27.6 billion euros with a 20% tariff, and stressing the need to account for the currency cost component as well.
