Italian President Decries US Tariffs as 'Inadmissible'
Click to start listening
Synopsis
On March 24, Italian President Sergio Mattarella criticized the proposed US tariffs, deeming them unacceptable. He emphasized the importance of open markets and fair regulations during a commemoration of the Treaty of Rome.
Key Takeaways
- Mattarella finds US tariffs unacceptable for all nations.
- Open markets ensure peace and support export interests.
- Tariffs create trade barriers and hinder quality products.
- The EU must respond calmly to unjustified tariff measures.
- There is a call for reform in European decision-making processes.
Rome, March 24 (NationPress) - Italian President Sergio Mattarella on Monday condemned the proposed US tariffs, labeling them as inadmissible for everyone. Speaking during an event in Rome to mark the 68th anniversary of the signing of the Treaty of Rome, Mattarella highlighted the necessity of open markets. "Open markets serve two crucial interests: peace and our fundamental export needs. Tariffs create trade barriers, distort commerce, and disadvantage quality products. This is intolerable for us and should be intolerable for all nations," he asserted.
The treaty, which established the groundwork for the European Economic Community and eventually the European Union, was commemorated amidst conversations regarding the future of European integration and global trade, as reported by Xinhua. Mattarella expressed his hope that common sense prevails amid looming tariff conflicts.
He emphasized the need to maintain fair regulations. "We must remain composed without exaggerating our worries. The European Union possesses the capability to respond with poise and authority against any unwarranted actions like the imposition of tariffs," he remarked.
Reflecting on the historical importance of European unity, Mattarella called for renewed faith in Europe's future alongside a push for reform.
"The fact that the EU is a model emulated globally is a testament to its remarkable success. However, it still confronts challenges, including the demand for expedited decision-making processes. We need swift and timely responses. Europe must reinvent itself," he stated.
Last week, British economist John Ross indicated that the recent tariff strategies of the US President will adversely affect the US economy.
"The primary concern with the tariffs is which mix of negative consequences will arise," said Ross, former Director of Economic and Business Policy for the Mayor of London.
He noted that the short-term effects will include inflation as the tariff raises the cost of imported goods, and American companies in similar sectors might increase their prices due to the rise in their international competitors' prices, according to the economist.
