The United States is committed to expanding trade relations, as Arun Venkataraman, the American assistant secretary of Commerce for global markets, announced during a recent meeting organized by the State Department in New York. The goal is to relaunch the economic agenda of Joe Biden and Kamala Harris, encouraging both inbound and outbound trade. Italy is among the countries benefiting most from relations with the USA, as evidenced by Washington’s recent decision to declare Tuscany and Umbria areas free from swine vesicular disease, allowing for the reopening of exports of fresh and short-matured pork products to the United States.
Venkataraman emphasized the importance of promoting US exports and attracting investments while including imports from Italy in this endeavor. Trade between Italy and the United States has reached $117 billion, making Italy the nineteenth largest exporter to the USA worldwide and the sixth largest European exporter. In 2023, trade of goods and services between the two countries reached a record figure of $126 billion, with Italy exporting $72.7 billion to the USA. The growth rate of exports to the US has averaged 22% between 2017 and 2022, leading to the creation of 440 thousand jobs.
American exports to Italy are primarily in the oil and gas, precious metals, machinery, and pharmaceutical sectors, making it Italy’s largest non-European exporter. Venkataraman highlighted that trade plays an essential role in supporting American businesses by producing exports and domestic investment while creating jobs. For instance, New York was among
