Duties, conflicts and high energy prices: Legacoop's appeal to the EU
Legacoop launches an urgent appeal to European institutions to strengthen their role in the global geopolitical context and avert the risk of a trade war with the United States, the effects of which are already being felt. The repeated threats of new duties on European production, in particular on key Made in Italy sectors such as wine, PDO cheeses, olive oil and fruit and vegetables, could have serious impacts on exports, employment and economic growth.
"We need a diplomatic and negotiated solution," says Legacoop president Simone Gamberini, "that avoids trade retaliation that is harmful to everyone. Global competition must be based on fair rules and mutual respect, not on protectionist measures that only generate uncertainty and further instability. The impact of tariffs adds to a critical global picture. Yet another war increases energy prices, worsening expectations. Another shock affects the economic situation and forecasts."
"The already complex scenario is aggravated by the increase in oil prices due to the Israel-Iran conflict. The Italian production system held up at the beginning of the second quarter and the indicators improved for services. But export duties and uncertainty are deteriorating confidence , a bad sign for consumption and investments. On the other hand, the continuation of rate cuts in the Eurozone is positive," the president added.
"The devaluation of the dollar doubles the duties," Gamberini observes, "but it can facilitate the ECB's rate cuts. The effects of the strong euro on the dollar, in fact, add to those of the US duties on Eurozone exports . In addition to this, other currencies that follow the dollar could devalue, extending the negative effect on our exports to other markets. An expansionary monetary policy in the Eurozone is now increasingly appropriate to support our growth, stimulating both consumption and investment."
"This scenario makes the weakness of public intervention in the social and healthcare sectors even more critical, with the social-assistance sector underfunded and at risk of imbalances and where a warfare risks replacing welfare policies ", Gamberini underlines. "The economic sentiment among cooperatives in the first half of 2025 is negative, although a growth in turnover is expected in the social, healthcare and agri-food sectors".
"Cooperatives cannot and have never relocated and for this very reason they need timely interventions to avoid the loss of market share and jobs. It is time to act promptly and with foresight to safeguard our economic and social fabric , as well as, above all, peace, the foundation of all economic and civil development", concludes Gamberini.
Top Photo by Annie Spratt on Unsplash
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