US duties, Italy relies on Joe Biden

The change of the US administration should favor multilateral trade agreements as Italian food exports to the US grew by +5.2% for a value of almost €5 billion

Overcome the impasse in trade relations between the EU and the United States due to US additional duties for the Airbus-Boeing issue and inaugurate a new season of collaboration. This is the hope of the association of Italian farmers, Cia-Agricoltori Italiani, launched on the day of the official inauguration of Joe Biden at the White House. The goal is to support Made in Italy exports, starting with agri-food, which is already struggling with the effects of the pandemic.

Italian food top importing countries in the period January-October (values; 2020/2019)

Biden
Source: Ufficio studi CIA-Agricoltori italiani on Istat data

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Agribusiness is a particularly trade-sensitive sector, whose exports are worth over 42 billion euros in 2020,” – explains Cia’s president, Dino Scanavino. “The United States is a strategic market for Italian food and beverage exports, whose sales grew by +5.2% between January and November 2020 for a total value close to 5 billion euros. For this reason, we hope that the Biden administration will mark a return to dialogue and multilateralism, through agreements and shared decisions to overcome the nightmare of customs duties. Instead, the opportunities to create wealth through exports should expand.”

Italian food top importing countries in November (values; 2020/2019)

Biden
Source: Ufficio studi CIA-Agricoltori italiani on Istat data

In the present moment, that is also marked by Brexit, “it is all the more so urgent to encourage multilateral and bilateral trade agreements. NegotiationsScanavino says – can transform the value recognized by the consumer in economic value for agricultural enterprises including the respect of trade rules reciprocity.”

Trend of the Italian agricultural and food balance (values, January-November, 2020)

Biden
Source: Ufficio studi CIA-Agricoltori italiani on Istat data

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