IACCinform May Newsletter

Join us on May 10th at 11 a.m. to learn about the SBA’s new Restaurant Revitalization Fund (RRF) program which provides funding to help restaurants and other eligible
businesses keep their doors open.

During this one-hour session, SBA Economic Development Specialist Man-Li Lin will walk participants through the RRF application process and share important updates about
other SBA relief programs, including: the Paycheck Protection Program (PPP) and PPP Forgiveness; the Economic Injury Disaster Loan (EIDL) and EIDL Advance; and the
Shuttered Venue Operator Grant (SVOG) Preparation and Application.

On May 11 at 11 a.m., the Italian Chamber of Commerce in Canada invites IACC members to join them for “The Important Roles of ICAO and Aviation in Global Pandemic –
Response and Recovery,” a conversation with Salvatore Sciacchitano, Council President of The International Civil Aviation Organization. Participants will learn more
about the role of the global aviation sector in post-pandemic economic recovery.

Join us on a virtual culinary tour of Italy’s Calabria region during our Master Class “Boot” Camp tasting session. Participants will embark on a journey of discovery of
Calabria’s PDO and PGI products and will delve into the characteristics and qualities that define these products, as well as the geographic significance associated with
their production and unique characteristics. Taught by renowned food industry experts, the class offers a “deep dive” into PDO/PGI products from Calabria and features
simple recipes that you can recreate at home!

Biotechnology, gene therapy and the use of artificial intelligence are changing the face of healthcare, with European and American firms at the forefront of research,
development, and commercialization. Start-up ventures now compete around the world with entrenched players to develop the next lifesaving treatment. Policy and ethical
issues are stirring considerable debate in European-American life sciences circles, while many are seeing investment opportunities that attract global capital. Join us
on Thursday, May 27 as we discuss these topics and more during the third and final installment of our LEAP Forward webinar series, organized in collaboration with our
fellow LEAP Atlantic chambers.

On April 15, IACC members gathered virtually to take part in our Annual Membership Meeting during which IACC President Alberto Milani and Executive Director Federico
Tozzi shared a summary of 2020’s events and initiatives, reported on the Chamber’s year-end financial statements and provided members with a look into upcoming
projects for 2021.

In addition, we also announced the results of our annual Board of Directors elections and are pleased to congratulate first time Directors Luca Balestra
(UniCredit) and Marco Petrini (Monini North America, Inc.) as well as the following incumbent Directors elected to a second term: Venanzio
Ciampa (The Promotion Factory), Marco Lastrico (Barabino & Partners) and Cristiano Villani (Bravo International).

On April 22, representatives of LEAP Atlantic’s member chambers took part in “Innovate Faster,” the first installment of our three-part LEAP Forward webinar series,
which explored transatlantic investments in emerging and innovative technologies.

Panelists discussed how innovation in the digital realm has been a leading driver of European and American economies and highlighted several examples of how
transatlantic technology investment is giving rise not only to start-ups, but to global market leaders as well. Our esteemed panel of European experts shared case
studies of transatlantic ventures that are achieving success in this realm and provided advice on strategic opportunities for cross-border investment.

On April 27, IACC members gave a warm welcome to newly-appointed Consul General of Italy in New York, Fabrizio Di Michele. During this town hall-style meeting, IACC
members and representatives of New York’s Italian business community had the opportunity to learn more about consular services, IACC programming and ongoing
collaborative initiatives and projects organized in partnership with the Italian Consulate.

The second installment in our LEAP Forward webinar series, “(RE)Build Smarter,” organized in partnership with LEAP Atlantic, took place on Thursday, May 6. Guided by a
panel of European and American experts, participants discussed how companies are finding innovative solutions to address global environmental concerns and explored the
financial viability of different sustainability models through the lens of the European-American transatlantic relationship.

IACC members Luca and Isabella Di Pietro of Tarallucci e Vino restaurant recently received an unexpected surprise while appearing on the Drew Barrymore Show to speak
about their
Feed the Frontlines initiative which delivers free, nutritious meals prepared by local restaurants to healthcare workers and New Yorkers experiencing food
insecurity.

The Corporate Transparency Act (“CTA”) requires reporting entities (generally corporations, LLCs and similar entities that are formed in the United States through a
filing with state agencies, plus foreign entities with a presence in the United States) to report details of beneficial ownership to FinCEN, the Financial Crimes
Enforcement Network established under the auspices of the Department of the Treasury.

Although the CTA is aimed at curtailing criminal activity, its wide application necessarily results in the loss of some measure of anonymity and privacy for companies
that would never be considered in the same sentence with the word “criminal.” Click below to read the complete update and understand its potential implications for your
business.

On March 26, 2021, the United States Trade Representative (USTR) Katherine Tai announced that the United States is considering implementing up to 25% retaliatory tariffs
on certain products of Austria, India, Italy, Spain, Turkey, and the United Kingdom for the Digital Services Taxes (DSTs) adopted or under consideration by those
countries. If implemented, the retaliatory tariffs would be in addition to the general tariffs on imported products. Click below to read IACC member Greenberg Traurig’s
international alert providing detailed information on this important issue.

At a meeting of its international Board of Directors in January, Assocamerestero President Gian Domenico Auricchio was charged with working together with Unioncamere to
develop a strategy and timeframe for strengthening the relationship between Italy’s local chambers of commerce and the 81 Italian chambers abroad which comprise
Assocamerestero’s global network.

Together with Unioncamere’s Secretary General Giuseppe Tripoli, President Auricchio evaluated which initiatives should be promoted in order to accelerate the creation of
synergies between the two chamber systems and further strengthen the collaborative efforts among the members of this increasingly unified network. Two priority areas
were identified for immediate action:

– Improve efficiencies and economies of scale by integrating with Unioncamere’s existing institutional lobbying efforts with respect to government ministries.

– Prioritize the development of shared projects and initiatives between local Italian chambers of commerce and Italian chambers abroad, favoring activities that
facilitate an understanding of the chambers’ services and promote their use.

Directors Mario Pozza and IACC President Alberto Milani, together with Assocamerestero Secretary General Domenico Mauriello, were charged with further articulating these
priorities and working together with Unioncamere to define a strategy for reaching these two goals in the short term future, prior to the next meeting of
Assocamerestero’s Board of Directors.

The IACC is excited to present Piazza Italia–a digital platform that marries innovation and functionality to help strengthen commercial exchange between Italy and the
United States. Members gain exclusive access to a new virtual marketplace that connects supply with demand and serves as a commercial hub for all things Italian. The
platform offers users a series of strategic services such as live events, chat rooms and virtual showrooms where companies can present their products and services using
photos and video. Matchmaking technologies will pair complementary partners with one another based on their specific needs and search parameters.

To learn more about Piazza Italia Market’s benefits, packages and pricing, please
contact our offices today.

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Founded in 1966 with the entrepreneurial vision of Piero Ambrogio Busnelli, B&B Italia is a leading Italian company in the international world of designer furniture
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Milan, the firm’s prestigious headquarters were designed by Renzo Piano and Richard Rogers in 1972.

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