Global trade tensions are once again at the forefront of international economic discussions. In 2025, disputes between major economies, most notably between the United States, China, and the European Union, have triggered a new wave of tariff hikes and retaliatory measures. While headlines often focus on the direct participants in these conflicts, the ripple effects extend far beyond, affecting smaller economies and businesses throughout Europe.
For Italy's small and medium-sized enterprises (SMEs), which form the backbone of the national economy, the consequences are increasingly evident. From rising costs to supply chain disruptions and reduced access to foreign markets, Italian SMEs face growing uncertainty. In such a volatile environment, having reliable financial, tax, and business advisory support becomes crucial.
At Studio Gullì, we are helping Italian SMEs confront these challenges with tailored strategies and international expertise.
A complex global trade environment
Recent tariff disputes have escalated rapidly. A series of trade measures introduced by key economies in early 2025 – ranging from additional customs duties to targeted restrictions on high-tech goods – have complicated global supply chains. Sectors such as automotive components, textiles, machinery, and agricultural products have been particularly affected.
For Italy, a country deeply integrated into European and global trade networks, these developments carry significant risks. Many SMEs depend on foreign suppliers for raw materials or components, while others rely on exports for growth. The unpredictability of new tariffs, sudden regulatory changes, and retaliatory actions make it harder for these businesses to plan ahead.
Unlike large corporations, SMEs typically lack the internal resources to absorb rising costs or navigate complex trade regulations on their own. This makes them especially vulnerable to the cascading effects of tariff disputes, even if they are not directly engaged in cross-border trade.
Key challenges for Italian SMEs
Supply chain disruptions – One of the most immediate consequences of tariff wars is the disruption of global supply chains. Italian SMEs often source essential inputs from Asia, North America, or other parts of Europe. Sudden tariffs on key materials can delay shipments or force companies to seek more expensive alternative suppliers, leading to production slowdowns or even halted operations.
Rising operational costs – Higher tariffs translate into increased costs for imported goods and materials. SMEs frequently operate on narrow margins and may find it difficult to pass these additional expenses onto customers without risking a loss of competitiveness. This can erode profitability and create cash flow challenges.
Market access restrictions – Export-oriented Italian SMEs also face the risk of reduced access to key markets. Tariffs imposed by foreign governments on Italian products may diminish demand or render exports unprofitable. For many SMEs that rely on international sales to grow, these barriers can jeopardise long-term business plans.
Regulatory complexity – The evolving nature of trade policies and customs regulations adds yet another layer of difficulty. SMEs must keep up with shifting rules, tariff schedules, and reporting requirements, often with limited internal expertise or administrative capacity.
How Studio Gullì helps SMEs navigate trade uncertainty
In this increasingly complex environment, SMEs need not face these challenges alone. Studio Gullì offers a comprehensive suite of services designed to help businesses manage the financial, operational, and strategic implications of global trade disputes.
- International tax and customs advisory
Studio Gullì assists clients in understanding and complying with the tax implications of tariffs and trade barriers. This includes guidance on customs duties, VAT obligations, and the fiscal treatment of imported and exported goods. By optimising tax positions and identifying cost-saving opportunities, the firm helps SMEs limit the financial impact of new tariffs. - Business restructuring and supply chain strategy
The firm also works with SMEs to reassess and restructure their supply chains. This can involve analysing alternative sourcing options, evaluating new supplier relationships, or relocating parts of the production process to more favorable jurisdictions. Studio Gullì helps clients conduct feasibility studies and risk assessments to support well-informed decisions. - Financial planning and cost management
Studio Gullì's accounting and financial advisory services enable SMEs to better manage cash flow and anticipate the financial effects of trade volatility. Through customised financial modeling and scenario planning, the firm helps businesses maintain liquidity and adjust their budgets to withstand price fluctuations and logistical disruptions. - Strategic market analysis
In addition to managing risks, Studio Gullì supports SMEs in identifying new market opportunities. By analysing market conditions, tariff structures, and international trade agreements, the firm assists clients in developing strategies to expand or shift their market.
A global network with local expertise
As the exclusive Italian member for Accounting Services of IR Global, a worldwide network of legal, financial, and business advisors, Studio Gullì is uniquely positioned to provide cross-border support. This international affiliation allows the firm to collaborate with trusted professionals in over 165 jurisdictions, offering seamless assistance for SMEs dealing with multi-country trade issues.
Whether navigating customs regulations abroad, resolving tax matters in another market, or coordinating legal and financial strategy across borders, Studio Gullì leverages this network to deliver practical solutions tailored to each client's global business needs.
Turning challenge into opportunity
Despite the challenges posed by tariff wars, proactive planning and expert guidance can turn uncertainty into opportunity. SMEs that take the time to review their operations, improve resilience, and adapt to new trade realities will be better equipped to compete in the global marketplace.
Studio Gullì remains committed to supporting Italian SMEs through these turbulent times. By combining deep knowledge of Italian tax and accounting rules with an international outlook, the firm delivers the expertise and insight necessary to help businesses succeed.
To explore how Studio Gullì can assist your company in responding to global trade challenges, visit www.studio-gulli.com or contact the team directly for a consultation.
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.
