Trade Wars and Tariffs
Italian Deputy Prime Minister Antonio Tajani said trade wars benefit no one and called for zero tariffs to help both businesses and consumers.
Welcomed the U.S. decision to pause tariffs for 90 days, hoping it leads to positive negotiations with the EU.
He urged for constructive dialogue with the U.S., not confrontation, to avoid a transatlantic divide.
India-EU Bilateral Trade and Investment Agreement (BTIA)
BTIA has been delayed in the past, but now has strong political support from both sides.
Italy and the EU are committed to finalising it by end of this year, as agreed during the February visit of EU leaders.
EU wants flexibility in the deal, especially on tariff and market access issues like wine, dairy, and agriculture.
Tajani said each trade deal is unique, and the EU doesn’t expect to get the same terms as the U.S. in its deal with India.
India-Middle East-Europe Corridor (IMEC)
Tajani admitted peace in the Middle East is essential for the IMEC project to reach its full potential.
Despite challenges, he called the corridor a “beacon of hope” that can boost regional stability.
Italy is offering Trieste port as a key hub for the project, linking Asia, the Middle East, and Europe.
Italy will host a Ministerial meeting later this year to strengthen cooperation on the “Cotton Road” and promote connectivity.
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