The impact of Donald Trump's tariffs on Italian exports to the United States might be as high as 9%, proving that in the medium run, the burden of tariffs will be comparable to that of the rest of the world. This is according to a new analysis from the Confindustria Research Center titled "Exports Between Fractures and New Routes", which outlines the problems Italian producers face in the US market. Despite this environment, Italy has demonstrated remarkable endurance. Italian exports to the rest of the world increased by 3.3% in 2025, although this growth was mostly driven by a few markets and sectors, particularly pharmaceuticals. "Globalization is not stopping, but it is changing shape and direction", stated Lucia Aleotti, Confindustria's Vice President. The value of goods traded globally in 2025 surpassed $26 trillion, which is equivalent to 22.4% of global GDP, setting a new record. However, the drivers of this dynamic are shifting: according to the analysis, Asia's contribution to global export growth is increasing relative to other continents. Asia accounted for 90% of this growth in the first half of 2026, with Europe contributing virtually nothing. While the United States remains the primary source of demand and imports, as well as China's production and exports, the focus of growth is rapidly shifting to Asia, India, ASEAN, Latin America, and, eventually, Sub-Saharan Africa.