The tightening of trade duties announced by the U.S. administration led by Donald Trump may have limited effects on the Italian economy. According to the Unimpresa Study Center, lolo one-third of Italian companies export to the United States, about 34,000 companies, and more than 50% of the exported value is generated by companies with more than 250 employees, therefore more structured and able to absorb shocks. Italy exports goods to the U.S. accounting for 10% of its total exports, with a high quality composition: 43% of products are high-end, 49% are mid-range and only 8% are low-end, or more price-sensitive. Italian companies generate an average of 5.5% of sales in the United States, with a gross operating margin of 10% . According to the Unimpresa Study Center, duties at 20-25% could cause a 1% drop in the total turnover of exporting companies and a reduction in margins of up to 0.5% points for 75% of the companies involved. The most exposed sectors are pharmaceuticals (24% of U.S.-related value added), shipbuilding and aerospace (15%), followed by furniture, electronics, fashion and motor vehicles (between 6% and 8%). Smaller firms are more vulnerable, with less diversification and lower margins.