Trade barriers and supply-chain shocks frame policy research
Researchers at a Rome conference organized by the Bank of Italy and the European Central Bank examined how trade barriers affect firms, innovation and prices. Discussions also covered consumers and lower-income households.
Tariffs reach firms and households
The Bank of Italy and the European Central Bank held their fifth conference on trade, value chains and financial linkages in Rome on October 29–30, 2026.
Andrea Brandolini, the Bank of Italy's Director General for Economics, Statistics and Research, gave opening remarks.
Felix Tintelnot of Duke University and Paola Conconi of the University of Oxford delivered keynote lectures.
Researchers from academia and policy institutions discussed trade and industrial policies, economic activity, innovation and prices.
Topics included multinational enterprises' responses to tariffs, non-tariff barriers, rules of origin and restrictions on semiconductors and critical raw materials.
Discussions also stressed assessing consumer effects, particularly for lower-income households.
Supply routes under geopolitical pressure
The conference also explored geopolitical fragmentation, links between credit and trade, and sanctions evasion through third-country intermediaries.
Research on maritime route disruptions examined how supplier diversification and alternative transport modes help firms adapt to shocks.
The Bank of Italy said speaker presentations would soon be available on its website, without giving a publication date.
Organizers plan the next edition of the conference for autumn 2027.
Adaptation extends beyond tariffs
The research agenda connects trade restrictions with financing and transport disruptions.
Firms' adaptation options include supplier diversification and alternative transport modes.
Household effects also formed part of the conference's assessment of trade policies.