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Elon Musk expressed his hope for a future of zero tariffs between the US and Europe, advocating for a free trade zone during a video-link address to Italy's League Party. He also emphasized the need for greater freedom of movement for workers between the two regions, aligning with right-wing political sentiments. Following President Trump's recent tariff announcements, Italy's Economy Minister called for de-escalation in trade relations.
Elon Musk expressed his hope for a future of zero tariffs between the U.S. and Europe, advocating for a free trade zone during a video-link address to Italy's right-wing League Party. He emphasized the importance of allowing greater freedom of movement for workers between the two regions. This statement follows recent tariff announcements by President Trump, which could impact Italy's trade surplus with the U.S.
Elon Musk expressed his desire for a zero-tariff free-trade zone between Europe and North America during a video-link address to Italy's right-wing League Party. He advocated for unrestricted trade and greater freedom of movement for workers between the regions, emphasizing the need for cooperation amid recent U.S. tariffs announced by President Trump. Musk's comments align with his support for right-wing parties in Europe, including Italy's League and Brothers of Italy.
President Trump has announced sweeping tariffs, including a 10% minimum on most imports and significantly higher rates on goods from various countries, escalating a global trade war that threatens economic growth and inflation. The tariffs, which include a 54% levy on Chinese imports, have drawn criticism from allies and could lead to retaliatory measures, further impacting global markets. Economists warn that these policies may slow the economy and increase living costs for American families.
Giorgia Meloni, Italy's first female prime minister, has achieved surprising political stability, becoming the fifth-longest-serving leader in the Italian Republic's history. With her party polling near 30%, she aims to strengthen Italy's role in Europe and align closely with the Trump administration, despite facing challenges in foreign policy, particularly regarding Ukraine and NATO defense spending. Meloni's tenure reflects a shift in Italy's political landscape, as she navigates both populist alliances and her authoritarian tendencies.
Italy has paused negotiations for a €1.5bn contract with Starlink due to growing concerns over Elon Musk's controversies and his influence on critical infrastructure. The decision reflects a broader debate among Italian lawmakers about reliance on non-European tech, especially amid fears of Musk's control over Ukraine's connectivity. Meanwhile, Tesla faces a significant decline in European sales, attributed to Musk's political affiliations and public backlash, leading to protests and vandalism against the brand.
Tonino Lamborghini, a luxury lifestyle brand, has signed a Memorandum of Understanding at the Italy-UAE Business Forum, enhancing its presence in the UAE and opening new growth opportunities. The brand, known for its commitment to Italian craftsmanship and innovation, aims to create immersive experiences in real estate and hospitality while embracing local culture and sustainability. Over the next five years, it plans to deepen its regional footprint, blending Italian flair with local influences.
Elon Musk has requested a meeting with Italy’s President Sergio Mattarella to discuss a $1.5 billion Starlink deal, which faces increasing opposition amid geopolitical tensions. Prime Minister Giorgia Meloni's government is exploring alternatives as domestic political controversy grows, with discussions about a potential partnership with Eutelsat. The situation is complicated by Musk's previous comments on NATO and his criticism of Italian judges, raising concerns about the deal's viability.
Fear has returned to financial markets following the collapse of Credit Suisse, which saw its shares plummet 24.2% to an all-time low of 1.69 francs. The crisis was triggered by the Saudi National Bank's refusal to provide further financial support, leading to a loss of 355 billion euros in European banking capitalization.In response, the European Central Bank is demanding disclosures from banks regarding their exposure to Credit Suisse. The Swiss bank is reportedly considering borrowing up to $54 billion from the Swiss central bank to bolster its liquidity amid growing international scrutiny and political pressure.
Italy and the UAE have finalized a USD 40 billion investment agreement, enhancing their economic ties across energy, AI, defense, and space. This landmark deal, announced at the Italy-UAE Business Forum in Rome, positions Italy as the UAE's top non-oil trading partner in Europe and includes over 40 bilateral agreements. Major Italian firms will spearhead initiatives in digital connectivity, advanced manufacturing, and space exploration, while also expanding defense cooperation into industrial partnerships.
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01:00 27.02.2025
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