Trump tariffs will have massive effect on Italian companies, business lobby warns

The effect of U.S. tariffs on Italian companies will be massive, the head of national industry lobby Confindustria said on Wednesday, calling for Europe to negotiate with President Donald Trump and avoid further escalation. Trump was poised to impose sweeping new reciprocal tariffs on global trading partners on Wednesday, upending decades of rules-based trade, threatening cost increases and likely drawing retaliation from all sides.