Storyline: Looming U.S. tariffs on the European Union (EU) would have a significant impact on the Italian economy, according to an Italian professor of European policy. On Wednesday night, U.S. President Donald Trump announced a near-universal tariff regime on imports to the U.S., shaking global markets and prompting a sharp downturn in international stock exchanges. Most European Union exports to the U.S. will now face a 20-percent tariff, with certain sectors -- including vehicles, auto parts, steel, and aluminum -- hit with even steeper 25-percent duties. Commenting on the looming U.S. tariffs, Valentina Meliciani, director of the Luiss Institute for European Analysis and Policy at Luiss Guido Carli University, warned that sweeping Trump tariffs would threaten both U.S. and Italian economies. As a member state of the EU, Italy in recent years has oriented its export flows toward non-EU markets, especially the United States, said a report released by the Italian National Institute of Statistics (ISTAT), noting that nearly half of Italy's exports were sold outside the EU, with around a tenth sold in the U.S. Between 2019 and 2024, the U.S. market has seen a growing importance in almost all Italian manufacturing sectors. Italy's main exports to the U.S. include machinery, pharmaceutical products, cars and trucks, and beverages. In 2024, Italy's trade surplus with the U.S. reached approximately 35 billion euros (about 37.94 billion U.S. dollars). Together with Germany's 85-billion-euro (93.1-billion-U.S.-dollar) surplus, the two countries account for about 70 percent of the European Union's overall trade surplus with the U.S., according to ISTAT's data. Shotlist: FILE: Rome, Italy - Jan 4, 2022: 1. Italian national flag on top of building 2. Quirinal Palace FILE: Italy - 2024: 3. Various of traffic on street Rome, Italy - Recent: 4. SOUNDBITE (Italian) Valentina Meliciani, director, Luiss Institute for European Analysis and Policy, Luiss Guido Carli University: "It's true that Italy's exports to the United States are quite high. Therefore, tariffs on EU products, including those from Italy, will have a negative impact on our economy. Of course, this will also have a negative impact on the U.S. economy." FILE: Washington D.C., USA - October 2024 5. Various of White House FILE: New York City, USA - Oct 2024 6. Various of port scene, Statue of Liberty FILE: Los Angeles, USA - Date unknown 7. Various of port 8. Containers at port. [Restrictions : No access Chinese mainland]