In statements issued on the La Repubblica newspaper’s website, Italian Minister for Enterprises Adolfo Urso acknowledged that “there is a risk of an escalation” in the face of the high tariff increase announced by US President Donald Trump on May 23.
The Italian government decided to structure immediately the implementation of an aid plan for its companies to face this threat, even though the date for implementing this measure was postponed from June 1 to July 9, following a phone call between Trump and European Commission President Ursula von der Leyen.
“We plan to reprogram the National Recovery and Resilience Plan (NRRP) and the Cohesion Funds, and we are also allocating the resources of the Social Climate Fund in this direction,” Urso said, referring to a redistribution of those resources.
Urso indicated that it aims to allocate an additional 25 billion euros to support the managerial sector, particularly those that will be most affected by this tariff burden, the effects of which, according to experts, will have the magnitude of a real commercial earthquake in Europe.
abo/iff/ro/ort
