The trade threats could reduce exports to the United States and dampen investment in Europe, dealing a blow to growth at a time when the continent is already facing a lackluster economy.

With the U.S. as the largest non-EU market for Italian exports, tariffs imposed by President Trump could significantly impact sectors like wine, spirits, and furniture. Federvini, representing wine and spirits exporters,

The European Union’s executive branch has vowed to “take firm and immediate action” against U.S. President Donald Trump’s imposition of tariffs on steel and aluminum