Italy's main farm lobby is forecasting a 20 per cent drop in sales of Italian agricultural products targeted by new US tariffs. The group, Coldiretti, says the 25% tariffs that take effect Friday will hurt sales in the United State of Italian Parmesan and Gorgonzola cheeses, as well as cured meats, citrus fruit and liquors.
The Italian products on the tariff list represent half a billion euros ($550 million) in export value.
Coldiretti President Ettore Prandini urged the Italian government to launch promotional programs for Italian agricultural products in other export markets and offer aid to producers.
He said they "risk suffering the effects of the perfect storm between US tariffs and Brexit, after a loss of 1 billion euros over the last five years due to the Russia embargo.''