International-News

Bank of Italy: Panetta on Trump’s tariff war, ‘Trade wars also harm the countries that initiate them’

Attacco Usa in Nigeria contro l’Isis, Trump: “Risposta al massacro di cristiani” VIDEO

Frana a Cormons: disperso un giovane e un’anziana sotto le macerie VIDEO

Tifone Fung-Wong colpisce le Filippine: un milione di evacuati VIDEO LIVE

Cargo Ups precipita in Kentucky: sette morti e diversi feriti VIDEO

Published

11 mesi ago

15 Febbraio 2025

Bre-news

The governor of the Central Bank of Italy warns of risks to the global economy from the use of tariffs as negotiating leverage

At the 31st annual Assiom Forex Congress in Turin, Fabio Panetta, Governor of the Bank of Italy, highlighted the dangers of trade wars, pointing out that, historically, they also damage growth in countries that initiate them. Panetta suggested that the US administration’s tariff announcements could be used as a negotiating lever to redefine economic and political relations at the global level.

However, the governor also warned that, in a context already marked by geopolitical and trade tensions, such a strategy could spiral out of control, with destabilising effects beyond initial intentions. Panetta reiterated the importance of solutions based on cooperation to avoid a spiral of conflict that threatens global stability.

On the economic front, Panetta analysed the impacts of the tariffs announced by US President Donald Trump. If implemented, these could reduce global growth by 1.5 percentage points, with an impact of more than 2 per cent on the US economy. For the eurozone, the consequences would be smaller, around half a point, but with greater effects for Germany and Italy, due to their strong trade with the US.

Panetta then spoke of the uncertainty over trade policies, which could amplify the negative effects. Although an increase in US tariffs on European exports would not have a significant impact on inflation, volatility in energy markets, particularly in the gas sector, is a greater risk. The governor concluded by saying that even with a forecast of slowing global demand, the situation should be monitored carefully.

THE LATEST NEWS

International-News

Corruption in Ukraine: NABU indicts MPs over vote selling

28 Dicembre 2025

Corruption in Ukraine under scrutiny as NABU indicts several MPs accused of selling votes in parliament and reports obstacles to...

Corruption in Ukraine: NABU indicts MPs over vote selling

International-News

Epstein Documents Reveal Trump Trips on Private Jet Multiple Times

23 Dicembre 2025

New Epstein documents reveal Trump trips on the financier’s private plane, showing multiple flights with Ghislaine Maxwell and family members...

Epstein Documents Reveal Trump Trips on Private Jet Multiple Times

International-News

US sanctions EU officials, former commissioner Thierry Breton targeted

23 Dicembre 2025

US sanctions EU officials over digital policies, banning five European figures including former EU commissioner Thierry Breton. Washington cites censorship...