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Many predictions regarding the American tariff battle proved incorrect, particularly concerning the trend of our trade balance. Yesterday, Istat released export and import data updated to October, now believed to reflect almost all effects of the tariff war alongside the depreciation of the dollar.
Had anyone predicted in April, following Trump’s initial statements, that exports to the United States would grow by 9.7 percent in the first ten months of the year, it would have been met with disbelief. While this figure should account for the extraordinary build-up of stocks preceding the numerous announcements from the White House, it remains surprising and exceeds even the most optimistic predictions.
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