According to a study provided by Confartigianato, Washington's protectionist crackdown has cost Italian small and medium-sized firms €5.3 million per day in lost shipments to the US between August 2025 and March 2026. Over eight months, sales in industries with the highest concentration of SMEs fell by 10.4%, resulting in a total loss of €1.293 billion. The hardest-hit sectors are furniture (-16.2%) and food and beverages (-16%), while jewelry, eyewear, and sporting goods have suffered significant declines. Confartigianato President Marco Granelli refers to it as a "perfect storm": in addition to the actual tariffs, the dollar's depreciation—which fell by an average of 9% against the euro during the same period—and the general slowdown in global trade, all against the backdrop of energy tensions related to the Gulf crisis, are also weighing heavily. However, there is a countertrend: the April 2026 extra-EU export data show that Italian sales to the US are still expanding year on year, indicating that American demand for Italian products remains high. Therefore, the trade negotiations between the United States and the European Union regarding tariffs continue to be of paramount importance to Made in Italy.