San Marino was not covered by the package of elevated duties of Donald Trump – noted the Italian daily La Stampa. According to the newspaper, this small country has a chance to play an important role in trade relations with the United States.
While by virtue of the president's decision USA Donald Trump 20 % duties for goods from the European Union will apply, in the case of a small San Marino, which does not belong to the community, the minimum customs rate will be 10 percent.
“This oldest still existing Republic of the world has thus” pardoned “by the American president,” says Turin Gazeta. This means – he explains – that The state located on Monte Titano can play a strategic role.
The daily reminds that in San Marino dozens of import and export companies already have their headquarters, which use the numerous offered there tax breaks.
“La Stampa” explains that while the product is exported from Italian It will be covered by a 20 % duty, customs duty to the same product sent overseas by the San Marino Ocean will be lower by half.
San MarinoTrabantos/Shutterstock
San Marino in the crosshairs of European companies
The local association of entrepreneurs expressed concern about the growing interest of EU companies that would like to move there, because it would be more competition for them.
– Many of our companies have contacts with the United States and of course there is anxiety – said the Secretary General of the Association William Vagnini. – But I think our companies are ready to organize again, also directing attention to other markets – he added.
He also admitted that San Marino could also “get a ricochet” in connection with the duties, because Italy is the second main partner of the Republic after the US.
San Marino, which is an enclave in Italy, is the third smallest country in Europe after Vatican and monaco. Its area is 61 square kilometers, and the population has about 34 thousand. people.
Source of the main photo: Trabantos/Shutterstock