ANSA
04/18/2025
Around 68,000 jobs are at risk in Italy due to US President Donald Trump's tariffs, the Parliamentary Budget Office (UPB) said on Thursday.
"The US tariffs will have an impact on almost every sector of the Italian economy, taking into account the induced effects too, with a loss at the aggregate level of added value of around three-tenths of a percentage point," UPB President Lilia Cavallari told a joint hearing of the Lower House and Senate budget committees on the government's economic blueprint, the public finance document (DFP).
"In terms of employment, the effect is quantifiable in about 68,000 fewer jobs in total".
Cavallari said that the pharmaceutical, mining, automotive, chemical, metallurgical and machinery manufacturing sectors would be those worst affected, according to the UPB's simulations.
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