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Aside from economic losses, he says there is a risk that US consumers will turn to imitations, capturing market share that would otherwise go to authentic Italian products.

Britain's third largest supermarket has been struggling to keep up with its competitors, losing market share to bigger rivals such as Tesco and discounters Aldi and Lidl last year.

"We're flagging a significant investment back into the business, and that is going to materially reduce our profit in the short term as we rebuild the business and we rebuild our market share," he said.

Tesco is Britain's largest supermarket chain, with a 27.8% market share.

It retained 22% of market share in the final three months of 2024, down from 25% a year earlier.