The new 15% global tariffs wanted by Trump have been in force since 6 this morning (midnight Washington time). At the same time, the Customs and Border Protection Agency (US Customs and Border Protection) stopped the collection of duties imposed under the International Emergency Economic Powers Act (IEEPA) declared illegal by the United States Supreme Court.
What does it mean? And what should we expect?
Just three days ago, the US Supreme Court struck down many of the global tariffs that Trump had imposed. In particular, he had rejected those introduced using an emergency powers law, that is, a rule that allows the president to act quickly only in exceptional situations. The Court ruled that that law could not be used to impose such large tariffs on almost any country.
The tycoon reacted by harshly criticizing the decision, announcing the new measures. The question of refunds remains open: many American companies (and European ones that have a branch in the States) have already paid those duties and could now ask for their money back. That is: most of the duties passed so far are illegal and there is no longer any possibility of appeal. So, those who paid them will be able to request compensation, but the Supreme Court has not decided on this point, so it is likely that there will be lawsuits for years.
What happens in Europe and Italy?
For Europe and Italy the issue mainly concerns the new duties which, imposed at 15%, make it more expensive to sell European products in the United States, because they represent a tax paid by American importers on what they buy from abroad. This also directly affects Italy, given that the United States is one of its main markets: in 2025, Italian exports to the USA reached around 69.6 billion euros, with a strong trade surplus in favor of Italy (Reuters).
The most exposed sectors are those that are symbols of Made in Italy, such as wine, agri-food, fashion, machinery and part of the chemical and pharmaceutical industry. Italian wine alone exports around 1.9 billion euros a year to the United States, and the fear is that higher prices could reduce orders and contracts. Exports will not stop, but some companies could sell less or reduce margins, with possible effects on investments and employment in the sectors most linked to the American market.
For Italian consumers there should be no immediate effect on prices, because the duties are paid in the United States. So far, according to economic analyses, the largest share of the cost has fallen on American consumers and businesses, while foreign exporters have absorbed only part of it (Reuters). The main risk is rather uncertainty: continuous changes in trade rules can slow down trade and make it more difficult to plan production and investments.
Meanwhile, the European Union is evaluating possible countermeasures and does not rule out a commercial response, a scenario that could open a new phase of economic tensions between Washington and Brussels (Financial Times). The duties will remain in force until the end of July; to keep them longer, Trump will have to get approval from Congress, where the political battle has already begun.
The duties will remain in force for 150 days, until the end of July, as provided for by Section 122 of the Trade Act of 1974 on which they are based (a law other than the Ieepa rejected by the judges). If Trump were to decide to extend them he would have to appeal to Congress, where however he would find himself faced with a wall of Democrats ready to do battle.
