Economic Week: Focus on Tariffs and Inflation, Watch Out for Apple

The economic week opens with a new round of talks on tariffs between the US and China . "In London, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will meet with Beijing representatives for the trade agreement," Donald Trump announced on Friday on Truth, saying he was confident that "this time" it would go "very well."

The Chinese embassy in Washington had no immediate comment on the meeting, which comes just over two months after the US escalated tariffs on Chinese imports to 145% and a 90-day truce agreed in Switzerland that has so far done little to ease tensions between the two countries. In addition to the ongoing uncertainty surrounding the tariffs issue in general, investors will be closely monitoring the evolving rift between President Trump and Elon Musk . Shares of the electric vehicle giant fell more than 14% on Wall Street on Thursday as the crisis erupted. The two have traded insults on their respective social media platforms, with Trump suggesting he might cut Musk's subsidies and government contracts, which Tesla has been a beneficiary of.

Meanwhile, in Cupertino, Silicon Valley, Apple is holding its eagerly awaited (free) online developer conference from Monday to Friday, attended by several high-profile figures, including Nvidia CEO Jensen Huang. Over the years, WWDC has gone from being a technical conference for insiders to a key moment in the global tech calendar.

It is not only the occasion in which Apple presents the news for those who develop software but a stage where the future of the operating systems, interfaces and strategic vision of the iPhone is revealed, therefore of the mobile operating system of the main global protagonist of consumer electronics. In addition, on June 9 Apple will welcome more than 1,000 developers, students and students for a special event in person at Apple Park.

The week’s headline data is U.S. inflation, including consumer and producer price indices, along with the University of Michigan’s preliminary reading of consumer sentiment. In Europe, Germany releases wholesale prices, while the U.K. releases labor market data, April GDP growth, trade balance of goods, and industrial production. Also to watch are speeches from several ECB bankers.

On the domestic front, the former Ilva dossier is in the foreground, with the unions that have been summoned to Palazzo Chigi on Monday at 6:00 p.m. The meeting should reveal the line chosen by the government to get out of the impasse that was created after the blockade of the Afo1 blast furnace.

Here are the main events of the week.

MONDAY 9 JUNE

- Trenitalia: presentation of the Marateale Festival on board the Trenitalia High Speed ​​train (FrecciaLounge, Termini Station - 8.30 am)

- Ex Ilva: roundtable with the unions at Palazzo Chigi (6:00 p.m.) - Referendum: in the afternoon, after the closing of the polling stations, press conference by the general secretary of the Cgil, Maurizio Landini (Frentani Congress Centre, via dei Frentani 4) - Parma: 80th annual assembly of the Parma Industrial Union. With Emanuele Orsini, president of Confindustria (Teatro Regio, Strada Garibaldi 16/a - 3:00 p.m.) - Naples: conference "Collaborative compliance: clear agreements, for strong companies". With Leo, Deputy Minister of Economy and Finance, Vincenzo Carbone, Director of the Revenue Agency (Industrial Union Piazza dei Martiri - 3:30 p.m.) - Mormant-sur-Vernisson (France) - public event of the European Patriots Party, first anniversary of the European elections - Chemin de la Vogue. With the Minister of Transport, Matteo Salvini (12.00)

- Japan: Final GDP, Q1.

- China: CPI, May

- China: Trade Balance, May

- Apple: Worldwide Developers Conference in Cupertino, until June 13.

TUESDAY 10 JUNE

- Istat: industrial production April (10.00 am) - Rome: presentation of the Annual Report on the activities carried out by the Financial Information Unit for Italy in 2024.

The Minister of Economy Giancarlo Giorgetti will participate (Banca d'Italia Convention Center, Via Nazionale, 190 - 11:00 am) - Rome: "Business crisis: pension profiles", organized by INPS. Gabriele Fava, President of INPS will participate - Rome: General States of Accountants "Accountants: a strategic guide for the challenges of the country", organized by the National Council of the category. Participants include, among others, the President of the Council, Giorgia Meloni; Raffaele Fitto, Vice President of the European Commission; Antonio Tajani, Minister of Foreign Affairs and International Cooperation; Carlo Nordio, Minister of Justice; Giancarlo Giorgetti, Minister of Economy and Finance; Tommaso Foti, Minister for European Affairs; Maurizio Leo, Deputy Minister of Economy

- First Cisl: national congress "Let's cultivate a new culture for the development of work (Ergife Palce Hotel) - Bankitalia: presentation of the Uif 2024 report with the Minister of Economy Giancarlo Giorgetti (Banca d'Italia, Conference Centre via Nazionale 190 - 11:00 am) - Auto: Motus-E conference "Automotive innovation: a pillar of European competitiveness". With Gilberto Pichetto Fratin, Minister of the Environment and Energy Security (Casina Valadier - 4:00 pm)

- Rome: presentation of the book "The great hypocrisies on climate" by Roger Abravanel and Luca D'Agnese. Participants include, among others, Alfredo Altavilla, special advisor BYD; Renato Mazzoncini, at A2A (Senate, Piazza Capranica 72 - 6:00 p.m.) - Modena: delivery ceremony of the new Mercedes-Benz Tourismo buses to Busitalia, a Trenitalia company. Speakers at the event will include: Gianpiero Strisciuglio, CEO and General Manager of Trenitalia; Stefano Giordani, President and CEO of Daimler Buses Italia; Flavio Nogara, President of Busitalia; Serafino Lo Piano, CEO and General Manager of Busitalia; Gianluca Cocci, CEO of Busitalia Rail Service (Daimler Buses Italia headquarters, via Palmiro Togliatti 7, Bomporto - 3:00 p.m.).

- Perugia: Fnp Cisl, "Sustainable Generation: Commitment, Energy, Connections", XXth National Congress, with the general secretary Fumarola (Hotel Giò, Congress Centre - 3.00 pm.

Until 12)

- ECB: Villeroy speech (9.00 am)

- UK: ILO Unemployment Rate, April.

- UK: Average wages, April.

WEDNESDAY 11 JUNE

- Istat: exports of the Italian regions January/March - Government bonds: auction of annual BoTs up to 8.5 billion - Rome: "Telco for Italy" event. With Alessio Butti, undersecretary to the Presidency of the Council with responsibility for Innovation and digital; Pietro Labriola, CEO of Tim; Benedetto Levi, CEO of Iliad (Rome Events Piazza di Spagna, via Alibert 5a - 9.30 am)

- Rome: General Assembly of Confcommercio-Imprese per l'Italia. With the report of the President of Confcommercio Carlo Sangalli, a video message from the Prime Minister Giorgia Meloni and the speech of the Minister of Enterprise and Made in Italy Adolfo Urso (Auditorium della Conciliazione, via della Conciliazione 4 - 10:30 am)

- Rome: the Parliamentary Budget Office (UPB) presents its annual Report on budget policy. With President Lilia Cavallari and Minister of Economy and Finance Giancarlo Giorgetti (Sala Zuccari Senate - 10:30 am) - Rome: 'Inps online for inclusion'. With Valeria Vittimberga, Director General of Inps , Gabriele Fava, President of Inps (Palazzo Wedekind, Piazza Colonna, 366 - 10:00 am) - Rome: celebration of the 10th anniversary of FlixBus in Italy, .

Participants include Andrea Incondi, Flix vice president Europe South; Alessandra Priante, president of Enit (Rinascente terrace, via del Tritone 61 - 6:30 pm) - Rome: "Informal lunch" with Valerio Moro, head of Airbus Italy (Settimo Roman Cuisine and Terrace restaurant, Sofitel Villa Borghese - 1:00 pm)

- Rome: event "Homo Viator. Pilgrimage and journey". Participants include, among others, Card. Gianfranco Ravasi, president emeritus Pontifical Council for Culture and founder of "Cortile dei Gentili"; Nicola Zaccheo, president of the Transport Regulatory Authority; Stefano Antonio Donnarumma, CEO of Ferrovie dello Stato; Luca Cordero di Montezemolo, president of Italo Treno; Vincenzo Nunziata, president of Rome Airports; Antonio Turicchi, president of Autostrade per l'Italia (Temple of Hadrian, Piazza di Pietra - 5:00 p.m.)

- Perugia: Fnp Cisl National Congress with Fumarola (Hotel Giò, Fnp Cisl Congress Center - until the 12th) - ECB: publication of Wage Tracker wage indicators - USA: May inflation and core inflation.

THURSDAY 12 JUNE

- Rome: Istat, the labor market Q1 (10:00 am) - Rome: Unem annual assembly. With ministers Pichetto and Urso and Unem president Gianni Murano, Paolo Arrigoni, president of Gse, Enrico Letta President of Arel, Ettore Prandini president of Coldiretti, Aurelio Regina delegate of the President of Confindustria for Energy (Roma Eventi Congress Center, via Alibert 5 - 9:00 am)

- Rome: the Parliamentary Commission of Inquiry into the economic and social effects of the ongoing demographic transition holds a hearing with the Minister of Economy and Finance, Giancarlo Giorgetti (Hall on the 4th floor of Palazzo San Macuto - 8.30 am)

- Rome: EIB presentation of annual report. With the Minister of Economy Giancarlo Giorgetti (Bank of Italy - 9:30).

- Rome: " Piano Casa Italia - The proposals of Confindustria Assoimmobiliare ". Participants include Matteo Salvini, Minister of Infrastructure and Transport; Lucia Albano, Undersecretary of State at the Ministry of Economy and Finance; Federico Freni, Undersecretary of Economy (video); Marco Osnato, President of the Finance Commission, Chamber of Deputies; Massimo Garavaglia, President of the Finance Commission, Senate of the Republic; Paola De Micheli, Vice President of the Productive Activities Commission, Chamber of Deputies; Alessandro Cattaneo, Transport Commission, Chamber of Deputies; Roberto Rosso, Environment Commission, Senate; Davide Albertini Petroni, President of Confindustria Assoimmobiliare (Palazzo Wedekind, Piazza Colonna - 11:00 a.m.) - Rome: stop on the Roadshow "Clear agreements, for strong businesses", promoted by Confindustria, Mef and Agenzia Entrate. Participants: Giuseppe Biazzo, President of Unindustria, Maurizio Leo, Deputy Minister of Economy and Finance; Vincenzo Carbone, Director of the Revenue Agency; Luigi Vinciguerra, Head of the III department of the Guardia di Finanza; Angelo Camilli, Vice President of Confindustria. A round table with companies will follow: Luigi Marotta (Enel), Francesca Fracassi (Q8) and Alessandro De Franco (Acea) (via Andrea Nole 206 - 10:00).

- Milan: Google Cloud AI solutions. With Raffaele Gigantino, Country Manager Italy Google Cloud, Paolo Spreafico, Country Director of Engineering Italy Google Cloud, Alex Rutter, EMEA MD Artificial Intelligence Google Cloud (Superstudio, via Tortona - 9.30 am)

- Gorizia: the 26th national congress of the Banking Foundations and Savings Banks opens "Community: plural sets". Participants include, among others, Federico Freni, undersecretary of the Ministry of Economy; Maria Teresa Bellucci, deputy minister of Labor; Giovanni Azzone, president of Acri; Giovanni Gorno Tempini, president of Cdp (Giuseppe Verdi Municipal Theater - 10:30 a.m. The meeting ends tomorrow) - Brescia: 2025 general assembly of Confindustria Brescia "New horizons: the enterprise continues". Participants include, among others, Emanuele Orsini, president of Confindustria (Dis_play Theater, via Caprera 5 - 4:45 p.m.)

FRIDAY 13 JUNE

- Rome: Istat, foreign trade and import prices April

- Gorizia: XXVI National Congress of Banking Foundations and Savings Banks Spa "Community: plural sets". Organized by: ACRI. Speaker: Antonio Patuelli, president of Abi (Giuseppe Verdi Municipal Theatre - Via Giuseppe Garibaldi, 2 - 9.30 am)

- Rapallo (Ge): the 54th Conference of Young Entrepreneurs of Confindustria "PASSION FOR BUSINESS - In every challenge, a beginning" opens. Participants include, among others, Adolfo Urso, Minister for Enterprise and Made in Italy; Matteo Salvini, Minister of Infrastructure and Transport; Elly Schlein, Secretary of the Democratic Party; Antonio Tajani, Minister of Foreign Affairs and International Cooperation; Maria Anghileri, Vice President of Confindustria and President of GI of Confindustria (Hotel Excelsior Palace. Also in streaming - 2:30 pm. The proceedings end tomorrow)

- Japan: Industrial Production , April - Germany: Final Inflation, May

- France: Final inflation, May

- Spain: Final IPCA, May

- US Household Confidence (Michigan) Prelim. June - Germany: S&P Rating Review

SATURDAY 14 JUNE

- Rapallo (Ge): conference of the Young Entrepreneurs of Confindustria "BUSINESS PASSION - In every challenge, a beginning".

Participating, with the Minister of Enterprise Urso, the Minister of Transport Salvini, the Minister of Foreign Affairs Tajani and the president of Confindustria Emanuele Orsini (Hotel Excelsior Palace. Also in streaming - 9.30 am).