Trade wars benefit no one: Italian Deputy PM and Finance Minister Antonio Tajani #ItalyFinance

How does Italy view the U.S. decisions on tariffs ?

My dream is to see zero tariffs! Tariffs hurt both consumers and businesses alike. We firmly believe in the power of open markets, free and fair competition, and a level playing field for all.

President Trump’s decision to pause his tariffs plan for 90 days is a signal that we want to interpret positively, hoping that it will facilitate negotiations. Trade wars serve no one’s interests, especially when it comes to the vital transatlantic trade relationship. Italy fully supports the European Commissioner Sefcovic’s efforts to initiate a positive dialogue with the US. We are confident that through constructive negotiations, we can find mutually beneficial solutions.

PM Meloni has said that she often gets asked where Italy stands- with Europe or with US. Given that Ms. Meloni even attended US President Trump’s inaugural, is Italy disappointed that the US has not consulted the EU more, leading to many public differences in the past few months, including over Mr. Trump’s  claims on Greenland?

Italy, like India, has already built strong ties with the Trump Administration. At the same time, Italy remains steadfast in its commitment to supporting an effective dialogue between Europe and the US on key issues, from security to trade. President Trump is driving a bold agenda both domestically and internationally, which can sometimes cause friction, even with close partners like the EU. However, we have also seen a genuine willingness from Washington to collaborate with Europe. An example is the series of Quint meetings convened by Secretary of State Rubio, which I have praised as a significant step forward.

We must do everything we can to prevent a transatlantic divide. Regarding President Trump’s tariff policies, our approach must be one of constructive engagement, not confrontation, prioritizing open and honest dialogue with Washington. I firmly believe there is room for mutual understanding and greater reciprocity. The transatlantic relationship needs to evolve and find a new equilibrium, and I am optimistic that this process will unlock fresh opportunities for cooperation—opportunities we must be ready to embrace.

During her visit to India in February, EC President Ms. Von Der Leyen and PM Modi set a year-end deadline for the EU-India BTIA to be finalized. How likely is this, given previous delays and in what sectors could India and Italy most benefit from a trading agreement?

We recognize that past negotiations have not always gone as planned, but it is undeniable that the political momentum behind the current talks is stronger than ever. The visit of the entire European Commission to New Delhi last February was a powerful signal of trust and political will directed toward the Indian leadership. The EU is determined to be a key partner to India, and there is broad consensus across Brussels and European capitals on the importance of securing a meaningful agreement. Italy fully supports the Commission’s efforts in these negotiations, eager to see them reach a successful conclusion.

One of the major blocks to the BTIA negotiations has been on India’s tariffs and market access issues for wine and spirits, and agriculture and dairy products. Given that the India-US BTA is being negotiated this year as well, would Italy and EU expect the same terms as those being offered to the US in BTA negotiations?

Every trade relationship is unique and we do not assume that what works for India and the US will automatically benefit the EU as well. In the context of ongoing negotiations, what we seek is the flexibility needed to achieve the mutually beneficial agreement we all aspire to. On our part, we are fully committed to going the extra mile to secure a meaningful and balanced EU-India trade agreement, and we are confident that our counterparts share this same determination.

Can any progress be made on IMEC between India and Italy’s Trieste without peace and stability along the route between UAE, Saudi Arabia, Jordan and Israel’s Haifa Port, countries that have tense ties at present?

Of course, until peace in the Middle East is established, it will be hard to achieve the full potential of the Corridor. Nevertheless, for the Italian Government, this project represents a beacon of hope. It holds the promise of acting as a catalyst for stability across the broader region. It is essential to start shaping a new vision for progress today—one that focuses on strengthening geo-economic and intermodal connectivity between Asia, the Middle East, and Europe. This is why we are offering the port of Trieste as a hub to support the “Cotton Road”. Trieste is a key port in Northeast Italy, a region that leads in our economy and drives growth and innovation.

Our newly appointed Special Envoy will focus on key areas, including the development of vital port, railway, and digital infrastructure, as well as securing the necessary financial support, with a strong emphasis on the EU’s Global Gateway initiative. I plan to organize a Ministerial meeting with all countries part of the Cotton Road with the goal to strengthen further our cooperation!

Do you support the US’s negotiations with Russia on Ukraine?

I look forward to discussing the war in Ukraine with Minister Jaishankar, we appreciate very much the role of India in fostering peace and dialogue in the international arena. We deeply appreciate Washington’s efforts to foster confidence-building measures between the parties, with the ultimate goal of achieving a just and lasting peace. The Black Sea deal and the prisoners exchange were encouraging first steps, facilitated by the US, but much more goodwill is needed, particularly from Moscow. This war must come to an end, and the tragic loss of lives must stop. Achieving this requires a genuine commitment from all sides, along with good-faith negotiations and concrete actions that follow through on the agreements made.

Your visit to India comes a few months after PM Modi and PM Meloni adopted the Joint Strategic Action Plan on the side-lines of the G-20 in Brazil. How much has been done in concrete terms to take it forward since then?

This moment reflects the culmination of a deepening of our bilateral relationship —one that has never been more robust or dynamic. Following the adoption of the Joint Strategic Action Plan, a series of high-level institutional visits have laid the foundation for the ongoing Political Consultations with Minister Jaishankar. Together, we have identified key priority areas for cooperation in the coming years (2025-2029), all brimming with untapped potential. These include energy transition, innovation, connectivity through IMEC, advanced manufacturing, defence, security, renewable energy, tourism, migration and mobility. During my visit, I will inaugurate the representative office of the Italian joint-stock company, which promotes Italian companies’ investments abroad (SIMEST).

Your visit is part of the “political dialogue” pillar, what are the issues you hope to raise in your meetings with External Affairs Minister Jaishankar and Commerce Minister Goyal?

Minister Jaishankar and I will take a comprehensive look at the Joint Strategic Action Plan for 2025-29, focusing on immediate priorities while setting the stage for future collaboration at 360 degrees. In addition to strengthening bilateral ties, we will address the most urgent regional and global challenges. In today’s fast-evolving and often turbulent world, the high-level political diaalogue between India and Italy is more crucial than ever.

Building on the Italy-India Business, Science, and Tech Forum, Minister Goyal and I will guide our cooperation across key sectors such as Industry 4.0, energy transition, physical and digital infrastructure, and cutting-edge technologies, to name just a few. I will also underscore the growing significance of fashion and sports diplomacy as vital tools for cultural and economic exchange.