Tariffs on EU Imports: What the New U.S. Trade Policy Means for Italy

European businesses face a new trade reality: a 15% U.S. tariff on goods like furniture, wine, and autos, effective July 27, 2025. Announced by President Trump and European Commission President Ursula von der Leyen, this U.S.–EU trade framework redefines transatlantic commerce, impacting over 70% of EU exports to the U.S. Here’s how Italy navigates this shift.

Italy’s Tariff Exemptions and Challenges

Italy secured carve-outs for high-value sectors like pharmaceuticals, aerospace, and information technology, shielding these industries from the 15% tariff. A joint U.S.–Italy statement from April emphasized preserving shared strengths in advanced manufacturing, special economic zones, and defense cooperation. However, Italian exporters of finished goods—such as automotive parts, luxury items, and consumer products—face new 15% duties when selling to the U.S., adding friction to pricing and competitiveness.

Industry groups are pushing for further negotiations to mitigate these costs. U.S. importers, particularly those in Italy’s food, fashion, and design sectors, are reassessing sourcing strategies to adapt

U.S.–EU Trade Policy: A Reciprocal Shift

The 15% reciprocal tariff, finalized after months of uncertainty, replaces a threatened 50% surcharge and earlier 10% “Liberation Day Tariffs” proposed in April. After legal challenges paused initial plans, the U.S. and EU settled on this framework, signaling a move toward transactional trade relationships. The U.S. aims for reciprocity: if tariffs are imposed on its goods, equivalent measures apply.

Product lists will be clarified in phases by the U.S. Trade Representative and EU Commission, with agricultural products, aircraft parts, and semiconductors likely retaining exemptions or phased implementation.

Strategic Implications for Italian Businesses

The agreement provides short-term clarity but introduces complexity for Italian firms reliant on low-duty trade. Contracts and inventory decisions must now account for higher costs. The deal also includes reciprocal investment commitments, opening opportunities for collaboration in exempt sectors like pharmaceuticals and aerospace, where Italy’s innovation strengths can shine.

Key Takeaways for Italian Businesses

• Map Tariff Impacts: Identify products hit by the 15% duty and review HS codes for potential exemptions.

• Adjust Contracts: Revisit Incoterms, especially DDP, to manage duty costs and protect margins.

• Explore Opportunities: Leverage exemptions in pharmaceuticals, aerospace, and IT for deeper U.S. collaboration.

• Act Quickly: Consult customs advisors to align strategies with evolving U.S.–EU trade rules.

The July 27 agreement averts a trade war but challenges exporters to adapt. With tariffs reshaping transatlantic trade, agility is key. At ICP Americas, we are helping clients realign supply chains and explore investment structures to minimize exposure. If you export from Italy to the U.S. or vice versa, now is the time to review your strategy. Visit IC Americas for more insights or contact us for tailored guidance.