Italy, India Trade Relations - India Briefing News
The opinions expressed herein are strictly personal and do not The economic and trade relations between China and Italy have shown. What We Do · Arms Control and International Security · Civilian Security, The United States established diplomatic relations with Italy in following the partner, and the U.S. and Italy have sought to foster democratic ideals and The United States is one of Italy's most important trade partners, with. Visualizations; Exports; Imports; Trade Balance; Destinations; Origins During the last five years the exports of Italy have decreased at an would be expected from the size of its export economy and from the size of a product's global market) .
Political contacts and bilateral visits at the highest level between Canada and Italy have never been as frequent as in recent years.
Trade, investment and science and technology relations Canada and Italy have a strong commercial relationship. Italy ranks eighth in the world and third in Europe as a source of imports to Canada.
Italy remains a priority country for investment attraction into Canada, and there is strong and growing interest from Italian firms in using Canada as a gateway to the North American market.
Canada and Italy have a robust collaboration on science, technology and innovation STI based on a shared realization that advances in STI are key to economic prosperity. A Canada-Italy STI action plan, signed in Januaryidentifies the Arctic, marine science, life sciences and aerospace, as well as agriculture and agri-food, as areas for joint collaboration. The action plan details specific sectors of shared interest on which Canada and Italy will work in three-year cycles through sector missions and joint initiatives.
- Italy, India Trade Relations
- U.S. Department of State
- Government of Canada
There is a broad drive to increase bilateral STI cooperation in priority technology sectors by targeting subject matter experts, public research labs and universities through proactive partnering initiatives in key sectors, such as aerospace, green building and infrastructure, ocean technology and space.
Inthe Embassy of Canada to Italy introduced the Canada-Italy Innovation Award, which aims to develop new and existing relationships between Canadian and Italian experts into long-term collaborations in the fields of science and technology and innovation.
Cultural, academic and youth exchanges Canada and Italy have a strong and long-standing academic relationship, reinforced by inter-university and private-public academic agreements that generate new ideas and research projects, build relationships and encourage youth mobility. The introduction of tariffs by the US and the inevitable retaliations, mistrust in the current system of rules supervised by the WTO and the consequential high level of tension and uncertainly, even without specific barriers targeting Italian export sectors, could discourage the internationalization of many firms, especially the small and medium in size.
It should also be remembered that steel production in Europe like in most of the world is already under stress because of overcapacity, and in Italy in particular steel and aluminum production is facing some uncertainty for the problems that have recently involved important plants, such as Ilva in Taranto or Alcoa in Sardinia.
The partial closure of the US market in this sector might start a price war in Europe, too, at a moment in which the European integration process is already facing many difficulties. A general disruption of the steel market generated by American policies, even if they were not directed toward the EU, would certainly have a cost for the Italian economy.Al-Sisi Arrives in Italy
Furthermore, American tariffs on steel seem to be only the first step in a broader strategy pursuing a hard line on trade. Trump has already announced the start of an investigation into imported automobiles that would hurt Italian exports much more directly. Another likely target of US trade policy might be the agricultural and food sector, where the country has a high deficit, and is a highly important sector for Italy on that market.
Considering the issue from a different perspective, some studies suggest that Italy could also gain by a US-China trade war, because in the case of shrinking trade between these two economies, there might be room for substituting the exports of the two countries in these markets.
The restriction of Chinese exports to the USA might leave room for additional Italian exports of apparel and shoes to the USA, for example, while the reduction of exports — especially of medium and high tech goods - from the USA to China could help increase Italian exports of machinery, medical and optical goods and precision instruments to China. Even if Italy is not a large exporter of agricultural commodities like the USA, there is potentially room to expand exports in agriculture and food to China.