Italy's Prime Minister Unveils €25 Billion Plan and Engages in Trade Discussions with the US
Giorgia Meloni outlines initiatives for business support and potential tariff negotiations ahead of her meeting with Donald Trump.
Italian Prime Minister Giorgia Meloni has announced a strategic plan to allocate €25 billion aimed at supporting businesses, particularly in the agri-food sector.
During meetings at Palazzo Chigi with industry associations, Meloni emphasized her government’s intent to engage in discussions with the European Commission regarding a transitional regime for state aid.
This includes seeking greater flexibility in reviewing the National Recovery and Resilience Plan (PNRR), as well as adjustments to cohesion fund allocations and the definition of a social climate plan.
Meloni highlighted that within the framework of the Italian Recovery Plan and its forthcoming revision, around €14 billion has been identified for reallocation to promote employment and enhance productivity efficiency.
Furthermore, she indicated that an additional €11 billion could be reprogrammed in favor of businesses, workers, and sectors most affected by recent economic challenges, contingent upon cooperation with the European Commission.
In an upcoming engagement, Meloni will meet former US President Donald Trump in Washington on April 17. She plans to address further issues pertaining to trade, specifically the possibility of eliminating reciprocal tariffs on industrial products under a proposed 'Zero for Zero' formula.
Meloni stated that there appears to be interest from both the European Commission’s President and the Commissioner for Trade in this proposal.
The Prime Minister has expressed her disapproval of the previous US administration's trade strategies, asserting that such protectionist policies endanger both European and American economies.
She emphasized the intertwined nature of Western economies, noting that together, the EU and the US account for nearly 30% of global goods and services trade and about 43% of global GDP. The trade surplus between Italy and the US was highlighted, currently estimated at approximately €40 billion for 2024.
Meloni addressed the challenges facing the European economy, exacerbated by the ongoing war in Ukraine and the repercussions of the COVID-19 pandemic.
She outlined the necessity to reassess tariffs imposed on European industries, specifically referencing the impacts of the Green Deal regulations which she argues have adversely affected the manufacturing sector, notably in automotive.
The European Commission is actively encouraging member states to revise their PNRR to better invest available resources in light of the new economic realities, without compromising the plans' ambitious goals.
In parallel, significant reprogramming of cohesion policies is underway, which, alongside the PNRR revisions, may assist in bolstering Italy's productive systems.
Meloni reaffirmed her government’s commitment to revising the PNRR, a point raised during her election campaign.
She noted that achieving these revisions has involved collective efforts among all European nations.
During meetings at Palazzo Chigi with industry associations, Meloni emphasized her government’s intent to engage in discussions with the European Commission regarding a transitional regime for state aid.
This includes seeking greater flexibility in reviewing the National Recovery and Resilience Plan (PNRR), as well as adjustments to cohesion fund allocations and the definition of a social climate plan.
Meloni highlighted that within the framework of the Italian Recovery Plan and its forthcoming revision, around €14 billion has been identified for reallocation to promote employment and enhance productivity efficiency.
Furthermore, she indicated that an additional €11 billion could be reprogrammed in favor of businesses, workers, and sectors most affected by recent economic challenges, contingent upon cooperation with the European Commission.
In an upcoming engagement, Meloni will meet former US President Donald Trump in Washington on April 17. She plans to address further issues pertaining to trade, specifically the possibility of eliminating reciprocal tariffs on industrial products under a proposed 'Zero for Zero' formula.
Meloni stated that there appears to be interest from both the European Commission’s President and the Commissioner for Trade in this proposal.
The Prime Minister has expressed her disapproval of the previous US administration's trade strategies, asserting that such protectionist policies endanger both European and American economies.
She emphasized the intertwined nature of Western economies, noting that together, the EU and the US account for nearly 30% of global goods and services trade and about 43% of global GDP. The trade surplus between Italy and the US was highlighted, currently estimated at approximately €40 billion for 2024.
Meloni addressed the challenges facing the European economy, exacerbated by the ongoing war in Ukraine and the repercussions of the COVID-19 pandemic.
She outlined the necessity to reassess tariffs imposed on European industries, specifically referencing the impacts of the Green Deal regulations which she argues have adversely affected the manufacturing sector, notably in automotive.
The European Commission is actively encouraging member states to revise their PNRR to better invest available resources in light of the new economic realities, without compromising the plans' ambitious goals.
In parallel, significant reprogramming of cohesion policies is underway, which, alongside the PNRR revisions, may assist in bolstering Italy's productive systems.
Meloni reaffirmed her government’s commitment to revising the PNRR, a point raised during her election campaign.
She noted that achieving these revisions has involved collective efforts among all European nations.
Translation:
Translated by AI
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