As global trade dynamics continue to evolve and the European Union adopts a more assertive stance in defending its internal market, Italian exporters are facing an increasingly complex regulatory and financial landscape. Investigations into foreign subsidies, the imposition of tariffs on strategically sensitive imports, and heightened scrutiny on international trade practices have become prominent features of this new environment.
These developments pose considerable challenges - not only from a regulatory standpoint, but also in terms of financial planning, cost structures, and operational decision-making. At Studio Gullì, a Milan-based accounting and consulting firm, we support clients in navigating these disruptions by offering financial clarity, international perspective, and strategic guidance.
A shifting trade landscape in the EU
Over the past few years, the EU has rolled out a series of trade defence mechanisms aimed at preserving competitive balance within the single market. Among the most significant developments is the implementation of the Foreign Subsidies Regulation (FSR), which empowers the European Commission to investigate and address distortions caused by subsidies granted by non-EU governments.
Simultaneously, the Commission has launched targeted investigations and imposed new tariffs on sectors such as electric vehicles, solar technologies, steel, and critical raw materials; industries where foreign competition and state-backed enterprises have created substantial economic tension. These measures reflect a broader strategy to secure Europe's industrial sovereignty and economic resilience but present new risks for businesses engaged in cross-border trade.
For Italian exporters, these actions can introduce uncertainty and additional costs, particularly when operations involve imported components, foreign-owned suppliers, or international joint ventures. Even companies based entirely in Italy may experience indirect effects from regulatory shifts affecting their partners or broader supply chains.
Financial and operational consequences
The financial implications of EU tariff investigations are far-reaching. For many businesses, the most immediate concern is the potential increase in import costs, as tariffs on raw materials or intermediate goods erode profit margins and force adjustments to pricing strategies. These changes can strain competitiveness, especially in industries with narrow margins or limited pricing flexibility.
Liquidity and cash flow can also come under pressure. Customs delays, sudden duty obligations, and administrative burdens linked to compliance can slow down operations and tie up working capital. In parallel, the growing complexity of the regulatory environment demands increased attention to compliance both in terms of tax reporting and documentation.
Moreover, companies may face strategic uncertainty. Regulatory scrutiny can impact business relationships, market access, and future investment decisions. Firms involved in sectors under investigation may need to reconsider sourcing strategies, reconfigure international contracts, or even reevaluate the viability of certain markets.
How Studio Gullì supports exporters
Successfully navigating these challenges requires expertise in both domestic and international regulatory frameworks. Studio Gullì offers integrated services tailored to businesses operating in this environment. The firm's tax and accounting professionals assist clients in meeting their obligations under Italian and EU law, including VAT compliance, Intrastat reporting, and fiscal treatment of customs duties.
Beyond compliance, Studio Gullì helps companies understand the broader financial impact of trade policy developments. By analysing cost structures, modelling cash flow under various scenarios, and reviewing pricing strategies, the firm enables clients to make informed, data-driven decisions. Accounting services are adapted to reflect international exposure, ensuring that businesses can plan ahead and protect their financial stability.
Studio Gullì also plays a strategic advisory role. We work closely with clients to assess risk exposure in their supply chains, evaluate alternative sourcing or distribution models, and adapt long-term plans to shifting regulatory realities. Whether entering a new market or responding to an ongoing investigation, businesses benefit from proactive, forward-looking advice that goes beyond traditional accounting.
International tax planning is another cornerstone of the firm's work. With expertise in cross-border structures, Studio Gullì assists clients in optimising their tax positions while ensuring full compliance with European and global standards. This is particularly valuable when dealing with subsidies, state aid implications, or corporate arrangements involving multiple jurisdictions.
A global network with local insight
As the exclusive Italian member for Accounting Services of IR Global, a worldwide network of legal, financial, and advisory professionals across more than 165 jurisdictions, Studio Gullì is uniquely positioned to support clients engaged in global trade.
Through this network, we can collaborate seamlessly with trusted partners around the world. Whether a client faces a tariff investigation involving multiple countries or requires coordinated legal and financial advice across borders, the firm ensures access to the right expertise quickly and efficiently. This global perspective is essential in today's interconnected economy, where compliance and strategy must span national boundaries.
Preparing for the future
The EU's trade environment will likely remain in flux as geopolitical tensions, climate goals, and industrial policy continue to shape regulatory priorities. Italian exporters that act now - by reviewing their supply chains, strengthening compliance protocols, and seeking expert advice - will be best positioned to adapt and thrive.
Studio Gullì remains committed to helping businesses not only respond to these changes but anticipate them. With a combination of technical proficiency, strategic insight, and international reach, the firm is a reliable partner for navigating uncertainty and seizing new opportunities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
