One hundred days. That’s how long it took for the new Trump administration to reshape international trade dynamics. With a speed that most European boards of directors would struggle to match even for approving a budget change, the White House has already set in motion a shift that directly affects companies operating beyond domestic borders.

No multilateral dialogue, no gradual escalation. Just swift, unilateral decisions that redefine the context for those who export, import, or rely on international supply chains. For Italian SMEs, the message is clear: this is not the time to wait for clarity, but to interpret the new scenario and respond with strategic focus.

Good intentions are not enough anymore

Up until recently, the conversation was about open innovation, growth through M&A, and how SMEs could go on the offensive to expand. But today the rules of the game have changed: the ball is heavier, the field is tilted, and the referee only whistles in one direction. The new protectionist measures introduced in the first 100 days of this presidency have made access to key markets less predictable and increased the overall risk for Italian companies working internationally.

Still, this is not the time for defensive postures. If markets are changing, so must strategies. Not with impulsive reactions, but with deliberate, coordinated action.

Rethinking the map: not all markets are under tariffs

For many Italian SMEs, exporting is a daily achievement—built on relationships, reliability, and often thin margins. In an increasingly volatile context, focusing efforts more selectively becomes essential. Those looking only at the U.S. market today are more exposed. Those with broader vision can pivot more quickly.

The most forward-looking companies are already reevaluating the geographic scope of their commercial efforts, reducing dependence on individual markets, and rediscovering opportunities in less geopolitically sensitive regions. This is not just a tactical move, it’s a strategic one—and for companies with limited resources, it’s also a matter of sustainability.

M&A, with a different purpose

Today, mergers and acquisitions aren’t just about growth. They are a way to protect what works, reduce vulnerabilities, and consolidate value. Acquiring a compatible partner or strengthening supply chains through targeted deals can increase operational control. And it doesn’t have to be cross-border or complex: even domestic consolidation can offer the necessary stability.

Growth alone is no longer sufficient. What’s needed is resilience—and building it requires structures capable of withstanding the volatility we’ll likely continue to face for months to come.

No more “in-between” strategies

American protectionism isn’t just about tariffs. It signals a fundamental change in mindset. Those who built their strategies on stable markets and predictable trade flows are now facing a reckoning. In this context, Italian SMEs can still play a vital role—if they abandon old habits and make deliberate strategic choices.

Growth is no longer optional. It is a requirement for staying relevant. But to grow, companies must first defend their position. And to defend themselves, more than ever, they need a clear plan.

In a moving context, standing still isn’t neutral. It’s exposure. The SMEs that adapt today will be the ones that still matter tomorrow.