A CONCRETE REFUND OPPORTUNITY FOR ITALIAN EXPORTING COMPANIES

🔴 Live WEBINAR on Zoom

Online Event — Access link sent upon registration

Why Attend

Following the ruling by the Supreme Court of the United States, which declared the additional tariffs introduced by the US Administration under the International Emergency Economic Powers Act (IEEPA) unlawful, the US Department of the Treasury has launched a massive refund program for the amounts improperly collected.

To date, the US government has already refunded over $100 billion to the exporting companies involved, out of a total potential estimated at over $166 billion. This opens a strategic and time-limited window for Italian companies that have borne the impact of these tariffs over the last twelve months.

However, the recovery process initiated by U.S. Customs and Border Protection (CBP) is subject to strict phases and highly stringent administrative and legal deadlines: from verifying the status of customs entries (liquidated vs. unliquidated), to mapping deadlines for Post Summary Corrections and formal protests, to rigorous documentation requirements — currently, around 40% of initial applications worldwide have been rejected due to formal errors or lack of evidence regarding Importer of Record traceability.

GLI SPEAKER

• Francesco Sciaudone Global Managing Partner, GA-Alliance 
• Eduardo Savarese Of Counsel, GA-Alliance 
• Marcelo Lopes Partner, GA-Alliance
• Pedro Drummond Partner, GA-Alliance
• Vicky Phillips Partner, GA-Alliance

The Contribution of GA-Alliance

Aware of the technical complexity of this operation, GA-Alliance has set up a dedicated task force, in collaboration with international partner Pedro Drummond and his teams based in Miami, Orlando, and Boston, to assist Italian companies throughout the recovery process: from the audit and quantification of recoverable amounts, to document preparation, up to submitting applications to US customs authorities.

During the webinar, our international experts will outline the strategic implications and procedural requirements of this initiative, providing actionable operational guidance to verify the eligibility of your commercial operations.

ONLINE WEBINAR

CAPITALI PER ECCELLERE

La nuova architettura finanziaria per le PMI e le imprese familiari

Workshop di GA-Alliance 

Napoli, Giovedì 25 giugno alle ore 15:30

GA-Alliance a Palazzo Donn'Anna in via Posillipo 9 

RSVP 

La capacità di un’impresa di evolversi e competere su scala internazionale dipende sempre più dalla sua abilità nel superare i modelli di finanziamento tradizionali e dalla capacità di implementare strategie che abbiano un impatto sulla crescita. Per le imprese familiari e le PMI innovative, l’apertura al mercato dei capitali non rappresenta solo un’opportunità di raccolta fondi, ma un passaggio cruciale per l’esecuzione della strategia, istituzionalizzare la governance e accelerare i processi di crescita. GA-Alliance, EnVent Group, e TEHA Group hanno il piacere di accogliervi nella bellissima cornice di Palazzo Donn’Anna a Napoli per un momento di approfondimento dedicato alle strategie concrete per il rafforzamento del patrimonio aziendale. 

La tavola rotonda partirà dalle implicazioni per l’attuale scenario di forte volatilità , focalizzandosi sulle dinamiche che guidano lo sviluppo delle eccellenze produttive. Spazio sarà dedicato anche alla rivoluzione normativa introdotta dal nuovo TUF e dal Listing Act e dal Fondo Nazionale Strategico Indiretto-FNSI, strumenti pensati per sviluppare l’attrattività dei mercati dei capitali come fattore di crescita per le imprese facilitando l'accesso alla quotazione e la riduzione di oneri burocratici.

L'incontro vuole essere una opportunità di dibattito operativo sulle soluzioni di capitale più avanzate, le strategie e la governance, esplorando l'efficacia degli strumenti disponibili. Attraverso le testimonianze dirette di imprenditori che hanno già intrapreso questo percorso, verranno illustrate le applicazioni in azienda ai fini della continuità e la competitività del tessuto imprenditoriale italiano nel mercato globale. 

TAVOLA ROTONDA

• Francesco Sciaudone, Managing Partner, GA-Alliance
• Giulio Centemero, Presidente, Capogruppo Lega Commissione Finanze, Camera dei Deputati e Assemblea Parlamentare Mediterraneo
• Gabriella Colucci, Presidente e CEO, Arterra Bioscience SpA
• Paolo Daviddi, Partner, GA-Alliance
• Francesco De Astis, Asset Manager, Eurizon Capital
• Andrea Faraggiana, Direttore Generale e Managing Partner, SMART Capital
• Franco Gaudenti, Amministratore Delegato, EnVent Italia SIM SpA ed EnVent Capital Markets Ltd
• Barbara Lunghi, Head of Primary Markets, Borsa Italiana-Euronext Group
• Francesco Minotti, Vice presidente, Luigi Luzzatti Società Consortile pa
• Mario Mustilli, Professore ordinario di Finanza Aziendale, UniCampania Luigi Vanvitelli; Founder, Studi Finanziari Srl
• Rosario Pingaro, Amministratore Delegato, Convergenze SpA
• Daniel John Winteler, Executive Chairman, TEHA Group
• Moderatore: Mariarosaria Marchesano, Giornalista Finanziaria, Il Foglio
  

LOGISTICA

• Data: 25 giugno 2026
• Orario:
  • 15:30 Registrazione
  • 16:00 Inizio Lavori
  • 19:00 Conclusione e light cocktail
• Luogo: GA-Alliance - Palazzo Donn’Anna, Via Posillipo 9, Napoli

EU-MERCOSUR: STRATEGIC OPPORTUNITIES AND PRACTICAL
IMPLICATIONS FOR ITALIAN BUSINESSES
Key takeaways from the DG TRADE Italian Edition discussion – 26 May 2026

INDEX

• Executive Summary
• Market Access, Competitiveness and Regulatory Simplification
• Sector-Specific Implications and Strategic Considerations for Italy
• Conclusions

Executive Summary

The DG TRADE Italian Edition discussion on 26 May 2026 provided a practical overview of what the EU-Mercosur Agreement could mean for Italian businesses, placing the debate within a broader geopolitical and commercial context. The discussion made clear that the agreement is being framed not only as a trade instrument, but also as a strategic response to Europe’s declining competitive position in parts of Latin America, particularly in comparison with China’s growing economic footprint in the region.

A central message from the speakers was that the agreement would create opportunities for European exporters by reducing both tariffs and administrative barriers, while preserving EU regulatory standards. For Italian businesses, this could translate into stronger market access, improved protection for geographical indications, and a more predictable commercial environment in sectors where Italy has established strengths. At the same time, concerns around sensitive agricultural imports were directly addressed, with assurances that EU food safety requirements and market safeguard mechanisms remain fully in place.

Market Access, Competitiveness and Regulatory Simplification

Much of the discussion focused on the practical implications of the agreement for European companies seeking to expand in Mercosur markets. Speakers emphasized that the commercial value of the agreement goes well beyond tariff reductions. A major advantage lies in the reduction of non-tariff barriers that often make exporting costly and slow, including duplicative technical checks, burdensome certification procedures, and import authorization processes that create uncertainty for businesses.

The agreement was also presented as a strategic tool to strengthen Europe’s competitive position in Latin America at a time when Chinese firms have become increasingly embedded in the region. According to the speakers, European businesses currently face a structural disadvantage in markets such as Brazil and Argentina, where China has consolidated its presence while European market share has weakened. Because China does not currently benefit from an equivalent trade arrangement with Mercosur, the agreement could improve the relative position of European exporters, particularly in sectors such as automotive manufacturing, fashion, wine, and industrial goods where Italian companies are especially active.

Sector-Specific Implications and Strategic Considerations for Italy

A more technical part of the discussion focused on rules of origin, which will determine whether products qualify for preferential tariff treatment. Speakers acknowledged that these requirements can be complex and differ significantly depending on the sector, especially where supply chains rely on components sourced globally. This means that businesses will need to assess carefully whether their products can effectively benefit from the agreement in practice.
For Italy, the agreement was presented as especially relevant for industries that rely on quality, brand value, and product authenticity. The protection of geographical indications was highlighted as a concrete gain, with products such as Parmigiano Reggiano expected to benefit from stronger recognition and protection in Mercosur markets. Agricultural sensitivities were also openly discussed, particularly concerning beef imports, with the Commission underlining that monitoring tools and safeguard measures are intended to mitigate risks for vulnerable European sectors. The discussion also briefly addressed Mercosur’s evolving political composition, including Bolivia’s prospective accession and Venezuela’s continued suspension, both of which may shape future developments.

Conclusions

The discussion framed the EU-Mercosur Agreement as a strategic attempt to combine economic opportunity with geopolitical positioning, offering new openings for European businesses while seeking to preserve the regulatory safeguards and market protections that remain central to the EU’s trade approach:

• • The EU-Mercosur Agreement is being positioned as both a commercial opportunity and a strategic instrument to strengthen Europe’s presence in Latin America.

• • For Italian businesses, the most immediate potential benefits lie in improved market access, reduced administrative barriers, and stronger protection for high-value branded products.

• • Real commercial gains will depend on companies’ ability to navigate technical implementation issues, particularly rules of origin and product-specific compliance requirements.

• • While sensitivities remain in agriculture, the Commission’s message was that regulatory protections and monitoring mechanisms are designed to ensure that market opening does not come at the expense of EU standards or vulnerable sectors.

The workshop “Basket Bond Regione Lazio: Beyond Traditional Credit”, hosted last week at GA‑Alliance’s Rome office, turned discussion into a practical roadmap for local SMEs. Technical presentations, real‑world case studies and a roundtable with institutional representatives and market participants demonstrated how the Basket Bond can become a tangible instrument to finance growth, internationalisation and financial consolidation.

Why the Basket Bond matters for SMEs

• Access to long‑term capital — The Basket Bond enables companies to secure financing with longer maturities than traditional bank loans.
• Diversification of funding sources — Collective issuances allow SMEs to reduce reliance on bank credit and attract institutional investors.
• Strengthening governance and reputation — Participation in an issuance requires transparency and standardisation, which improve corporate governance and market perception.

How it works in practice

• Securitisation and public guarantee — Technical sessions explained how securitisation converts receivables into tradable securities and how public guarantees mitigate risk, making the securities more attractive to institutional investors.
• Stable returns and mitigated risk — The combination of structure, rating and guarantees delivers a risk/return profile aligned with professional investors’ requirements.
• Practical examples — Case studies illustrated pricing, maturities and placement mechanisms.

The operational role of arrangers

• Key arrangers — CDP, Mediocredito Centrale, Banca Finint and Banca Finnat Euramerica outlined the essential operational steps: structuring the issuance, setting pricing, market placement and post‑issuance management.
• Arrangers’ added value — Their experience is crucial to translate corporate needs into effective financial solutions and to secure market success.

Testimonials and value for companies

• Support for growth plans — Participant testimonies highlighted how the Basket Bond model can finance productive investments and international expansion projects.
• Operational Q&A — Questions from attendees clarified practical aspects for SMEs: eligibility requirements, impact on financial structure and implementation timelines.

GA‑Alliance’s role as Legal & Tax Advisor

Francesco Sciaudone, Managing Partner of GA‑Alliance, described the legal role of arrangers and the firm’s contribution in supporting issuances. With experience in approximately 200 issuances, GA‑Alliance emphasised the importance of specialised legal support to manage contractual complexity, compliance and relationships with institutional investors.

Roundtable speakers and principal contributors

• Francesco Sciaudone — Managing Partner, GA‑Alliance
• Roberta Angelìlli — Vice President, Regione Lazio
• Giulio Bastia — Co‑General Manager, Banca Finnat Euramerica
• Giuseppe Biazzo — President, Unindustria Roma – Frosinone – Latina – Rieti – Viterbo
• Angelo Camilli — Vice President Credit, Finance and Tax, Confindustria
• Vincenzo Paolo Carbonara — Head of Alternative Finance, CDP
• Toni Ciolfi — Councillor, Ordine dei Commercialisti di Roma
• Lorenzo Coletta — Head of Minibond and Basket Bond, Mediocredito Centrale
• Massimo Fabiano — Head of Business Development Corporate Debt, Banca Finint
• Andrea Martina — Partner, GA‑Alliance
• Giovanni Sabatini — Senior Advisor, GA‑Alliance
• Fabrizio Sadun — Head of Public Affairs Italy, GA‑Alliance
• Paola Sepe — Counsel, GA‑Alliance

Key takeaways

• The Basket Bond is a practical solution for SMEs seeking medium‑ to long‑term capital while retaining flexibility.
• Structure and public guarantees make the securities more attractive to institutional investors.
• An experienced arranger and specialised legal counsel are decisive factors for a successful issuance.

We thank the speakers and the nearly 100 participants for a substantive, action‑oriented discussion that laid the groundwork for new financing opportunities across the Lazio region.

Our Team

Online Webinar by GA-Alliance

Online Webinar Event

The finalized EU-Mercosur agreement is much more than a trade deal; it is a shift in the global regulatory landscape. For European companies, it represents the removal of billions in tariffs; for the legal and fiscal world, it introduces a complex web of new sustainability standards, intellectual property rules, and procurement opportunities.

Join us for this online workshop taking place on January 22, 2026, at 4.00pm (CET/GMT+1). We won't just tell you what the agreement says - we will tell you what it means for your bottom line and how to position your business to thrive in this new economic corridor.

EVENT INVITATION : The EU-Mercosur agreement and the future of transatlantic business

About GA-Alliance

GA-Alliance - an international law and tax firm with a global network spanning 80 countries and a team of over 2,600 professionals - is uniquely positioned to bridge these two worlds. Our multidisciplinary expertise allows us to navigate the intersection of international trade law and cross-border tax strategy with unparalleled precision.

Find us in the LATAM Area:

• Argentina
• Bolivia
• Brasile
• Cile
• Colombia
• Costa Rica
• Ecuador
• El Salvador
• Honduras
• Messico
• Panama
• Paraguay
• Perù
• Repubblica Dominicana
• Uruguay
• Venezuela

The draft law on measures to support the competitiveness of capital incorporates some of the measures most frequently represented by market operators aimed at increasing the competitiveness of the Italian financial industry and supporting the economy, by promoting measures to modernise the regulatory framework in light of the evolving dynamics of the markets and the growing competition between international financial centres.

In our newsletter, we have gone into these issues in detail: we invite you to download it and find out more about the Capital Bill.