Donald Trump's tariffs will hurt but
the consequences of decades of all-out globalisation should not
be forgotten, Economy Minister Giancarlo Giorgetti told question
time Wednesday.
"It is undeniable that the policy of introducing tariffs
announced by the American administration could damage the
Italian economy as well as the European one and with a knock-on
effect global trade", he told the House.
"However, one thing at this moment in my opinion must be
reiterated, which perhaps we forget: we come from decades of
total competition at a global level, the mythical globalization,
often without rules; today we have the uncertainty of what the
repercussions on the economy of American tariffs could be, but
we forget the actual damage that the Italian economy has
suffered and many companies and entrepreneurs have disappeared
thanks to unfair competition with respect to a theory of free
trade that in some way was considered inevitable".
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