Italian business figure highlights cooperation with China on industrial machinery, EV

Italy sees major business opportunities from China in areas such as industrial machinery and green energy, and the country needs Chinese electric vehicle (EV) investments to boost its auto industry, according to an Italian business figure.

China is Italy's largest trading partner in Asia and the biggest non-EU trading partner after the United States, while Italy is China's fourth-largest trading partner in the European Union (EU). Italian Prime Minister Giorgia Meloni began her five-day visit to China on Saturday, aiming to strengthen trade relations between the two countries.

In an interview with China Global Television Network (CGTN) on Wednesday, Vincenzo Raffa, vice president of the Italy-China Association of Business, shared his thoughts on potential areas for bilateral trade cooperation between the two countries. For example, he noted cooperation on industry machinery, which has been a leading export from China to Italy in recent years.

"First of all, the agricultural sector, also the pharmaceutical (sector). Because China keeps on asking for higher healthcare needs in China, and Italy can address this kind of needs. Also (industries related to) aging population both in Italy and China are really key industries. Of course, we are also talking about luxury goods, industry machinery and advanced manufacturing. Industry machinery is the number one export from China to Italy in the past years and still is. And, of course, green technology, where China is a leader for the past years and renewable energy where Europe and Italy are focusing on," said Raffa.

Despite the EU's unjustified high tariffs on Chinese EVs, Raffa said that Italy, as an EU member, actually welcomes Chinese manufacturers setting up EV production in the country to support its auto market, according to the Italian business insider.

"From one side, Europe is sending a blockage message. From the other side, Italy is saying it's okay. We are in the middle of the Mediterranean; Chinese investors can have access to the Italian market which is at the center of logistics for the entirety of Europe and Africa, so we can be partners. From the other side, the Italians are looking for a place to invest, so there are mixed messages at the moment. What we can see from an economic point of view is that actually, although there are some tariffs on auto exports from China, the concrete messages are actually opposite. The Italian government is looking for a second investor after Le Motor in Italy to produce cars in Italy, so this is actually what Europe wants. Europe wants Chinese companies to set their production in Europe and start producing in Europe to help the European market grow. So one is a political message, one is an economic message," said Raffa.

In recent months, China's visa-free policy for nationals of more countries has signaled greater openness, which is expected to attract more overseas investors, according to Raffa.

"For sure, the visa-free policy is more than welcome. For new investors or for people who want to access this incredibly flexible market, it is a good thing. I would not say that this is really shifting the foreign direct investment arena in the future or in the present. But, for sure, this portrays China as taking a more open step towards better treating foreign direct investment," he said.

Italian business figure highlights cooperation with China on industrial machinery, EV

A survey released by CGTN to global netizens shows that respondents strongly condemn the U.S.'s unilateral bullying of other countries under the pretext of "reciprocal tariffs," saying that this move may trigger countermeasures from other countries and eventually evolve into a "tariff world war," seriously impacting the world economy.

The U.S. claims that it has suffered losses in international trade and is raising tariffs on all trading partners under the pretext of "reciprocity," aiming to reduce the trade deficit. However, 81.03 percent of global respondents do not agree with this, believing that such measures will not achieve the expected results. During his first term in office, U.S. President Donald Trump imposed tariffs on major trading partners. According to statistics from the American Action Forum, a think tank, Trump's protectionist policies during the first term cost U.S. consumers about 57 billion U.S. dollars annually. According to the survey, 81.94 percent of respondents believe that "reciprocal tariffs" cannot solve U.S.'s own problems but will only harm the interests of U.S. consumers and drag down the U.S. economic growth.

The competitiveness of products from different countries varies. Each country can set appropriate tariffs based on its own products to achieve "mutual benefit" in the international market. The "tariff farce" of the U.S. side is a selective disregard for the balance of interests reached through multilateral trade negotiations. Some 82.8 percent of the respondents point out that in the context of unequal economic development and economic strength of different countries, the U.S. insistence on full and complete reciprocity in tariffs is extremely irrational.

The majority of the U.S. tariffs this time are targeted at developing countries. Regarding this, 82.96 percent of the respondents condemn the U.S. for conducting "indiscriminate attacks" on other countries on the issue of tariffs, believing that this is a deprivation of the development rights of other countries, especially developing countries. According to the survey, 84.43 percent of the respondents believe that the U.S.'s imposition of "reciprocal tariffs" will exacerbate the problem of trade unfairness with its trading partners and traditional allies, seriously damaging the country's credibility.

As a member of the World Trade Organization (WTO), the U.S. has unilaterally and subjectively introduced so-called "reciprocal tariffs" and insisted on implementing them. This is a typical act of unilateral bullying. In response, 79.47 percent of the respondents criticize the U.S. for seriously violating the rules of the WTO. In the survey, 79.58 percent of the respondents say that "reciprocal tariffs" have become a new tool for the U.S. to promote trade protectionism, which will further intensify international trade tensions and global economic fragmentation.

This survey was released on CGTN's English, Spanish, French, Arabic and Russian platforms. Within 24 hours, a total of 9,600 overseas netizens participated in the survey and expressed their views.

CGTN poll: US 'reciprocal tariffs' draw condemnation from world