Investment in the U.S.:“business as usual”
After talking about the foreign investment in Spain, we shift our focus towards the U.S. market, a key destination for European companies, including those from Spain
by giuseppe salemme and ilaria iaquinta
Experts: Giuliano Iannaccone, head of the international practice at Tarter Krinsky & Drogin in New York, and Luigi Perin, a tax expert at Funaro & Co.
With the U.S. presidential election fast approaching – November 5th, to be exact – the world’s attention is fixed on what’s happening in the United States. This time, voters will choose between former president Donald Trump and the current Vice President, Kamala Harris. While Europe has largely focused on U.S. foreign policy and geopolitics, the American economy is something that impacts us directly. The trade links between Spain and the U.S., in particular, have reached impressive figures, with a total exchange of $19.7 billion, highlighting the importance of this relationship. Countries like Italy have capitalised on this potential: in 2023, Italian exports to the U.S. hit a record $72.7 billion, positioning Italy as one of Washington’s key European partners.
Although the upcoming presidential elections may cause uncertainty, experts are reassuring that there’s no need for immediate concern. Giuliano Iannaccone, head of the international practice at Tarter Krinsky & Drogin in New York, and Luigi Perin, a tax expert at Funaro & Co., also based in New York, told MAG (here’s the original article) that the U.S. market continues to offer opportunities, even in the face of political shifts.
According to Iannaccone, who has spent 25 years advising Italian companies in industries such as fashion, food, and construction, “Political or economic crises that seem to threaten the U.S. market almost always create new opportunities in other sectors. Companies that are negatively affected at one point often bounce back and grow in the years that follow.” Perin, for his part, emphasized that while elections stir anxiety, they are unlikely to drastically change the business landscape: “If Harris wins, there will be continuity with the Biden administration. If Trump wins, we might see changes in tariffs or incentives, but the interest in European, particularly Italian, products will remain strong.”
