Image 1 of 1
Less

CIPG_20180611_NYT-Trade_M3_9592.jpg

Add to Lightbox Download

COLLE DI VAL SIENA (SIENA), ITALY - 11 JUNE 2018: Giorgio Meniconi, sales manager of Tecon, poses for a portrait in his office at the Tecon factory in Colle di Val Siena (Siena), Italy, on June 11th 2018. Tecon is a tool used to slice leather into shoes, jackets and bags.

Once the Obama administration struck the nuclear deal with Iran three years ago, Italy saw a chance. Last year, Italy exported more than 1.7 billion euros (nearly $2 billion) worth of goods to Iran. Then, President Trump withdrew the United States from the Iran deal and vowed to reinstate sanctions, dealing a blow to companies across Europe — especially those from Italy, Germany and France.

For years, counterfeit versions of Tecon's product have circulated in Iran, the handiwork of Chinese factories. The owner Giorgio Meniconi took the nuclear deal as impetus to register his company trademark in Iran and forge a relationship with a local distributor.
But last month, the distributor called and canceled the deal. Since Mr. Trump opted to reinstate sanctions, Iran’s currency has plunged against the euro, making Tecon’s products too expensive.

Copyright
©2018 Gianni Cipriano
Image Size
5602x3735 / 10.5MB
www.giannicipriano.com
Keywords
Contained in galleries
20180611_NYT_Trade
COLLE DI VAL SIENA (SIENA), ITALY - 11 JUNE 2018: Giorgio Meniconi, sales manager of Tecon, poses for a portrait in his office at the Tecon factory in Colle di Val Siena (Siena), Italy, on June 11th 2018. Tecon is a tool used to slice leather into shoes, jackets and bags.<br /> <br /> Once the Obama administration struck the nuclear deal with Iran three years ago, Italy saw a chance. Last year, Italy exported more than 1.7 billion euros (nearly $2 billion) worth of goods to Iran. Then, President Trump withdrew the United States from the Iran deal and vowed to reinstate sanctions, dealing a blow to companies across Europe — especially those from Italy, Germany and France.<br /> <br /> For years, counterfeit versions of Tecon's product have circulated in Iran, the handiwork of Chinese factories. The owner Giorgio Meniconi took the nuclear deal as impetus to register his company trademark in Iran and forge a relationship with a local distributor.<br /> But last month, the distributor called and canceled the deal. Since Mr. Trump opted to reinstate sanctions, Iran’s currency has plunged against the euro, making Tecon’s products too expensive.