Duties, Trump negotiates with Europe after the agreement with London: the agreements

The United Kingdom and the United States have agreed on a trade pact that, between patriotic rhetoric and export pragmatism, presents itself as "historic". The signing falls with textbook timing: the anniversary of the victory in Europe in 1945, just to add pathos. Keir Starmer spoke of "homage" to the transatlantic alliance, while Donald Trump, with his usual enthusiasm from the square, celebrated "a great agreement" that would open the doors of the British market to billions of dollars of American goods , especially agricultural ones. Starmer, connected, did his part in the duet, promising flourishing trade, safe jobs and more to come.

While London toasts, Brussels is counting the potential collateral damage. The two-way deal, which bypasses the single market and ignores any coordination with the European Union, comes as a blast of the horn in European diplomatic traffic.

Italy finds itself in a still unstable position : exposed in key sectors, from mechanics to agri-food. The details of the agreement remain unclear, but the consequences are already beginning to emerge. Starting with a new competitive imbalance that risks moving trade flows and investments outside the community perimeter.

What does the US-UK agreement on tariffs provide?

According to leaks, Washington will immediately remove the 25% tariffs on British steel and aluminum , while cars made in the UK will benefit from a generous tariff discount: from 27.5% to 10%, but only for the first 100,000 units per year. Above that threshold, the old taxes return. In exchange, London is digging into its wallet and promising 10 billion dollars in Boeing orders. Not only that: Downing Street promises to untangle the tangle of regulations that have so far kept American companies away.

The agreement also includes US agricultural products and pharmaceuticals , which will find a softer welcome, unlike Italy, thanks to harmonized standards and preferential lanes. All wrapped up in the reassuring packaging of "strategic supply chain safety". It should be noted, for those looking for substance beyond the label, that this is still a framework agreement : the details are still being worked out.

Pressure on EU allies: Trump relaunches the challenge of bilateral trade

The tariff agreement between Washington and London marks the loudest debut of yet another American protectionist season. Trump, right in the first days of his mandate, has started to hit Brussels again, accusing it of playing dirty and threatening to rain down tariffs. Then he changed his mind, then he changed his mind again. A few hours after shaking hands with London, he announced that he also wanted to sit down with Europe , but in his own way: first the conditions, then the dialogue.

In Brussels, the response was halfway between institutional composure and strategic irritation. The Commission took out the rulebook, activating an appeal to the WTO , and in the meantime polished a list of 95 billion euros in trade retaliations, parked but ready to spring into action.

Also on the table is plan B: dialogue, but without gratuitous concessions. Tajani in this regard recalled that a cohesive European front is needed, to avoid being overwhelmed by a dynamic that speaks more American than multilateral.

Europe at risk: economic impact of US-UK agreement on EU exports

The US-UK agreement introduces a competitive short circuit that risks penalizing the European industry with a certain brutality. British producers, thanks to preferential lanes on steel and aluminum, find themselves with a tariff advantage that EU steel companies can only watch from afar.

Meanwhile, London and Washington are also embracing each other on technology and aerospace. More than an agreement, it's an invitation to an exclusive dinner from which Brussels has been elegantly excluded. European suppliers risk ending up off the menu.

And on the agri-food side , the opening of the British market to American meat and corn clearly excludes continental produce.

How much Italy can lose: estimates on exports, GDP and employment

A tariff war scenario with Washington could slow down the growth of Italian exports , with impacts on employment and investments. Bankitalia and Confindustria estimate that prolonged tariffs could subtract up to a few tenths of GDP in 2025.

The Italian government, for now, is maintaining a cautious line . Economy Minister Giorgetti has called for coordination at the G7 level and greater EU flexibility on the budget for any aid to affected companies. Tajani is pushing for a united European response and for intense negotiations with Washington, while possible support and promotion measures on alternative markets are being discussed.