An estimted 12 percent of Italian Prosecco exports end up in the UK (Image: GETTY)
Other research has suggested the Italian car industry could also be clobbered if Britain crashes out of the EU without a withdrawal agreement in place. And regions which specialise in food production are likely to be particularly badly hit. Unveiling details of a tariff plan that would last for up to 12 months in the wake of a no-deal Brexit earlier this month, the Government said 87 percent of total imports to the United Kingdom by value would be eligible for tariff-free access, up from 80 percent now.
But the rule changes will mean some products arriving from the remaining 27 EU member states which are exempted from tariffs will face levies for the first time.
In 2017, the total value of trade between the UK and Italy was £19.7billion (€23billion), with Italy enjoying a £9.4billion (€11 billion) trade surplus.
The Confindustria study suggests the wine industry, which exports 12 percent of its produce to the UK, including £300million (€350million) in exports of sparkling wine Prosecco, will be especially badly hit.
It also suggests exporters of dairy products, particularly Parmesan cheese, will also be nervous, with the possibility of 35 percent tariffs on such products, as detailed in the UK Government’s announcement.
Prosecco exporters are concerned at the prospect of heavy tariffs after a no deal Brexit (Image: GETTY)
A separate report compiled by the Italian Confederation of Farmers (CIA)
