Italian companies are rushing to get as much food into their warehouses in the US as possible before Mr Trump takes office.
Italian producers of Parmesan cheese, olive oil and other products are scrambling to ship their goods to the US before Mr Trump takes office - Photo: FINANCIAL TIMES
Italian producers of Parmesan cheese, olive oil and other products are scrambling to ship their goods to the United States before President-elect Donald Trump takes office and carries out his threat to impose new tariffs on imports, the Financial Times reported on November 23.
The US imported €4.4 billion worth of Italian food, wine and spirits in 2023. Now Italian producers fear that American demand for their products will decline if prices rise after the incoming Trump administration imposes new, higher tariffs.
“Everyone is rushing to get as much food into their warehouses (in the US) as possible before Trump takes office,” said Michele Buccelletti, whose family business produces olive oil and wine in Tuscany and Umbria, Italy.
However, such efforts are being hampered by a shortage of cargo space ahead of Christmas. "Right now, it's impossible to find a 20- or 40-foot (6 or 12 meter) refrigerated container," Buccelletti said.
Mr Buccelletti said he usually sends 20,000 to 30,000 litres of extra virgin olive oil to the US two or three times a year. But since Mr Trump won the 2024 US presidential election, his US importer has been pushing for shipments to increase rapidly, and he is now aiming for 50,000 litres to be delivered this month.
Filippo Marchi, general director of Bologna-based Granarolo, said the company is trying to ship more Parmigiano Reggiano and Grana Padano cheese to its US subsidiary.
Granarolo is looking to secure additional warehouse space for its inventory by the end of February, when it fears new tariffs could be imposed. But Marchi remains hopeful that Trump might reconsider his tariff plans, especially on food.
Italian food and wine exports to the US increased by more than 19.5% in the first half of 2024 compared to the same period last year. In total, Italian agricultural exports to the US - Italy's most important market outside Europe - are expected to reach 7.8 billion euros this year.
During his first term as president, Mr. Trump imposed a 25% import tax on many European goods, including French wine and Italian cheese.
This week, Italian Prime Minister Giorgia Meloni acknowledged that “we are all worried about tariffs, and that is true.” She said her government would engage in talks with the Trump administration, while also looking at ways to boost European competitiveness.
There will be plenty of issues worth watching after the 2024 US presidential election, from the transition of power to who will be in the cabinet of the Trump 2.0 administration. To not miss any information, please follow us on Tuoi Tre Online here.
Source: https://tuoitre.vn/so-ong-trump-cac-nha-san-xuat-pho-mai-y-tang-toc-dua-hang-toi-my-de-ne-thue-20241123064139178.htm
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