The "Liberation Day" has arrived, albeit with little respect for the term, as it marks the announcement of tariffs the United States will impose on goods from several countries. A 20% tariff will be levied on European goods, based on a claim—disputed by economists worldwide, including American experts—that Europe imposes a 39% tariff on U.S. goods, while the World Trade Organization reports it is actually 5.2%.

Last year, Italy exported goods worth 65 billion euros to the U.S. The most affected sectors include agri-food, mechanical engineering, automotive, and pharmaceuticals. The pharmaceutical sector, with 11 billion euros in exports to the U.S., still doesn't know whether it will be impacted by Trump's tariffs, as acknowledged by Farmindustria. Aside from direct effects, there will be indirect consequences as well: higher prices for Italian products on American shelves could boost Italian-sounding competitors.