Italian Economy Minister Giancarlo Giorgetti expressed concerns over potential retaliatory tariffs on the US following President Trump's announcement of tariffs on several countries. At a forum in Milan, Giorgetti emphasized the need for a diplomatic approach, warning against counter-measures that could harm Italy, which has a trade surplus with the US. He called for EU flexibility in fiscal rules to support member states like Italy facing economic difficulties. As Italy's growth forecast dims, Giorgetti underscored the impact of public debt on fiscal policy decisions.
We should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us. We must try to keep a cool head.
In recent days there has been talk of aid for companies, but aid for companies is a state intervention that must be allowed under EU rules.
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