Italy urges stronger trade ties with Ireland to counter tariffs

Italy's Minister of Foreign Affairs, Valentino Valentini, spoke in Dublin about the need for European countries to respond carefully to recent criticisms from the U.S. He emphasized the importance of avoiding both tariff conflicts and harsh language that may worsen relations. He was addressing concerns raised by U.S. Defense Secretary Pete Hegseth, who labeled European nations as "pathetic freeloaders." Valentini attended a conference aimed at strengthening trade ties between Italy and Ireland. He noted that both countries face significant risks from a potential trade war with the U.S., especially with U.S. President Donald Trump planning to announce new tariffs on EU imports soon. This could lead to retaliatory measures from Europe. Italy's exports to the U.S. amount to €626 billion, and a trade war could heavily impact its economy. Italian Prime Minister Giorgia Meloni aims to foster better relations between Europe and the U.S., aligning with Trump’s views. During his speech, Valentini encouraged Italy and Ireland to work together to navigate the challenges posed by tariffs. The two countries experienced a notable increase in trade, rising from €8 billion in 2021 to €11 billion last year, mainly in chemicals and pharmaceuticals. He suggested that the EU should diversify its markets and strengthen ties with regions like Mercosur in South America and ASEAN countries in Asia. Furio Pietribiasi, from the Italian Irish Chamber of Commerce, highlighted the need for companies to advocate for better economic cooperation, especially in emerging sectors like renewable energy.