Xinhua, Rome :
The prospect of closer relations between the leaders of Italy and the United States is only likely to have an indirect impact on Italy’s struggling economy, analysts told Xinhua, though it could have a ripple effect on migrant policy and relations with Russia. Italy and the United States are traditional allies. But since becoming prime minister 10 weeks ago, the policies of Italian Prime Minister Giuseppe Conte have aligned with those of U.S. President Donald Trump more than with any other leader from a western, industrialized country.
In less than two months, the two leaders have met three times: at the Group of Seven (G-7) summit in Canada, at the meeting of the North Atlantic Treaty Organization (NATO) in Brussels, and during Conte’s state visit to Washington. Though the visits have yet to yield concrete results, analysts say they are likely to prove relevant.
A direct impact on bilateral trade is unlikely, according to Alessandro Terzulli, chief economist of SACE, the Italian export credit agency, since trade agreements are negotiated by the European Union rather than individual member states. But Terzulli told Xinhua there could be indirect benefits.
“We could see more collaboration between the two countries,” Terzulli said. “Or perhaps the United States will relax tariffs on products that could help Italy more than other countries, like automobiles, or it’s possible Italy could be part of a process to help convince the United States to return to the negotiating table on trade.”
The prospect of closer relations between the leaders of Italy and the United States is only likely to have an indirect impact on Italy’s struggling economy, analysts told Xinhua, though it could have a ripple effect on migrant policy and relations with Russia. Italy and the United States are traditional allies. But since becoming prime minister 10 weeks ago, the policies of Italian Prime Minister Giuseppe Conte have aligned with those of U.S. President Donald Trump more than with any other leader from a western, industrialized country.
In less than two months, the two leaders have met three times: at the Group of Seven (G-7) summit in Canada, at the meeting of the North Atlantic Treaty Organization (NATO) in Brussels, and during Conte’s state visit to Washington. Though the visits have yet to yield concrete results, analysts say they are likely to prove relevant.
A direct impact on bilateral trade is unlikely, according to Alessandro Terzulli, chief economist of SACE, the Italian export credit agency, since trade agreements are negotiated by the European Union rather than individual member states. But Terzulli told Xinhua there could be indirect benefits.
“We could see more collaboration between the two countries,” Terzulli said. “Or perhaps the United States will relax tariffs on products that could help Italy more than other countries, like automobiles, or it’s possible Italy could be part of a process to help convince the United States to return to the negotiating table on trade.”
