G20 duties agreement – key to economic restart and commercial opening in Italy

Published 2021년 11월 2일

Tridge summary

The G20 agreement between the US and EU resolves a 2019 dispute, ending tariffs on steel and lifting retaliations on US imports, including agricultural products that led to additional duties worth about half a billion euros for Italian agri-food exports. This resolution is seen as a significant step towards post-pandemic economic growth, with the removal of tariffs expected to reduce production costs in the agri-food sector and protect exports, including local DOC wines from Liguria. The US is considered a crucial market for Ligurian products, particularly DOC wines, which saw growth of 8.9% in the first seven months of 2020 despite the Covid-19 crisis.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The agreement reached at the G20 in Rome between the United States and the European Union puts an end to the dispute initiated in 2019 by Donald Trump: the agreement on tariffs for steel also extends to the table, where the retaliation of the European Union definitively falls. had affected imports from the United States of bourbon whiskey, blueberries, orange juice, beans, corn, peanut butter, rice, tobacco and cigars which are worth around 30 million euros for Italy alone, as well as products in iron, steel and cast iron, boats, motorcycles, clothing and cosmetics. The trade war had led to additional US duties of 25% which weighed on Made in Italy agri-food exports for a value of about half a billion euros: Grana Padano, Gorgonzola, Asiago, Fontina, Provolone, salami, mortadella, crustaceans, molluscs, citrus fruits , juices and liqueurs were just some of the products affected; the measures were suspended with the entry into force on 11 March 2021 of the agreement between the ...

Source: Sanremonews