"I have always thought that a trade escalation between the US and the EU would have unpredictable and potentially devastating consequences". Prime Minister Giorgia Meloni made this statement regarding the tariff accord between the United States and the European Union during the United Nations Food Systems Summit in Addis Ababa. According to Meloni, the 15% tariff basis is "sustainable", but it is necessary to provide more specific information, particularly for "particularly sensitive sectors, such as pharmaceuticals and automobiles." Beyond that, "we need to examine possible exemptions, particularly for certain agricultural products". "I am unable to assess it until I have access to precise data", the Prime Minister stated in reference to investment agreements, including the acquisition of US gas. In any case, Meloni stated that the agreement signed yesterday is "a fundamental agreement" and that "we must continue to work to establish all the specifics". Additionally, the commitment at the national and European levels must be to provide support to "the sectors that may be particularly impacted: this is the task we will undertake in the upcoming hours". The opposition in Italy is less optimistic: Chiara Gribaudo, the vice president of the Democratic Party, claims that yesterday's meeting is "not a victory". The Democratic Party representative asserts that the "imposition will result in significant financial losses for our nation, which serves as evidence of its ineffectiveness, despite the purportedly advantageous relationship between our government and that of the United States". Additionally, Gribaudo asserts that "this was merely the initial episode" and that "the sole certainty is that it will have a detrimental impact on our nation". Senator Sabrina Licheri (M5S), head of the Industry and Productive Activities committee, called the agreement “a total defeat", stating that “the 15% tariffs, nearly triple the current 4.8%, will lead to significant losses for Italian industry, with the risk of job losses estimated between 100,000 and 200,000".
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