It is the story of two economies. One is today’s story of American growth, the consumer boom and full – or near – full employment. The other is narrated in the language of a tomorrow where optimism yields instead to spirals of geopolitical crises, inflation, aggressive tightening on the rates necessary to fight it.
To prevail, for now, is the first version. An expansion that keeps in the presence of the unknowns, nourishing the hope of knowing how to avoid slips into recession. And it is here that the new bet of the Italian company on the United States takes place, from the export of fashion, luxury, wines and quality food to roles in infrastructural and industrial projects.
«We are returning from a 2021 – says Antonio Laspina, Ice director in New York – which has seen our exports grow by over 20%, to 61 billion, generating a surplus of 40 billion. Almost all sectors exceeded the values of 2019, pre-pandemic. This year, from the return of the fairs, from the interest of American buyers and Italian companies to be present, there are signs of further advances in high tech as well as in aerospace, in mechanics as in the fashion and food system ». On the part of Italian companies, he adds, a “more planning approach, a greater awareness of the American market” helps today. As well as “attention to Bidenomics, to opportunities created by administration programs on infrastructure, environmental defense and sustainability, manufacturing reshoring and supply chain rethinking” to the detriment of less reliable countries.
The examples multiply: Stephan Winkelmann, CEO of Lamborghini, the German parent company (Volkswagen) and headquartered in Sant’Agata Bolognese, stopped off at the Manhattan Auto Show and expects continued strong demand in the US, which is the main market of the Italian super luxury car brand. Success, reports the Ice, smiled at the Italian participation in trade fairs, from Fancy Food in Las Vegas in January to Coterie in clothing and textiles in New York in March with 70 companies. In April it was the turn of Coverings, the North American exhibition of ceramics. The results were good there too. A mission in jewelry in May will see the arrival of 50 companies instead of the hypothesized 30. Growth is also expected for participation in upcoming cosmetics and furniture fairs, while 300 Italian groups are already registered at Fancy Food in New York in June, on a par with 2019.
The chances of preserving growth in the United States are facilitated, compared to Europe, by a greater distance from the war in Ukraine and energy independence. The White House believes in it: the director of the National Economic Council Brian Deese said that the US “is better positioned than any other country in the world for a very difficult period”. Treasury Secretary Janet Yellen expressed concern but, among the more developed areas, above all for Europe. A estate also invokes the chairman of the Federal Reserve Jerome Powell: “The plan is to restore price stability and at the same time support a robust labor market”, he indicated at the end of the most recent meeting of the Central Bank which triggered the first of an expected series of rate hikes.