Procaccini (FdI/ECR): “On tariffs, confident that an agreement will be found”

From the correspondent in Strasbourg – The trade war between the European Union and the United States will not happen because the desire for mutually beneficial solutions will ultimately prevail. Nicola Procaccini, MEP for Fratelli d’Italia and co-chair of the European Conservatives Group (ECR), looks at the announcement of U.S. tariffs against European products without excessive palpitations. “I am very confident that an agreement will be found,” he confides in the interview granted to Eunews on the sidelines of the House proceedings. “[U.S. President] Trump is a businessman who moves in that logic. He wants an advantage, and he wants it in trade relations.”

Eunews: Should Trump’s announcement be of concern?

Nicola Procaccini: “It should be remembered that tariffs on steel and aluminium were already there, from 13 per cent on processed to 41 per cent for the rest. From what we can understand the decision mainly affects China and Canada. Here, the issue is twofold: first, there is an imbalance in the trade balance that needs to be corrected, and from the U.S. point of view, it is hard to say that they are not right. Secondly, Europe today is weak, and of course, it is scared because it knows that the imposition of tariffs can create further damage.”

 E: But the Commission argues that this trade imbalance is not there: the EU has a surplus in goods while the U.S. has a surplus in services…

N.C: “It is the combined data that needs to be considered. The balance of trade is made up of goods and services, and overall, the situation is not beneficial to the United States. You have to understand each other’s reasons, and there is interest in compromise, perhaps on the military.”

 E: Are you saying that at the time that EU pushes for an all-European defense industry you need to invest in the U.S. one?

N.P: “Of course, it is painful, but I think there is room to produce and buy.”

E: What is Italy at risk of? Is there anything to be concerned about?

N.P: “Of course, there is a concern. We are a manufacturing economy, Europe’s second largest manufacturing economy, dependent on exports. It’s a matter of dovetailing our interests with those of others.”

E: The debate in the Chamber has led to a request for European countermeasures, provided they are in line with the WTO for greater certainty. Do you agree?

N.P: “Of course, the World Trade Organization is a useful cap. However, dialogue is needed.”