This article examines the analyses of Fascism and the content of the Anti-Fascist and Anti-Imperialist propaganda carried out within one of the dissident tendencies of Italian Communism in the 1930s: the Trotskyist one. It is based on articles published not only in Italian Trotskyist newspapers and periodicals but also in those issued by the two main national Trotskyist groups (the French and Us ones) and by the International Secretariat, the leading structure of the International Trotskyist Movement in the 1930s. Most of the articles were written by Alfonso Leonetti and Pietro Tresso, who were not only the main executives of Italian Trotskyism but also, at the same time, respectively a notable leader of the International Trotskyist Movement (Leonetti) and a member of the leadership of French Trotskyism (Tresso). Their articles dealt with the Anti-Fascist repression, the quarrel between Fascism and Catholic Action, but especially with Fascist imperialism, which led to the Italo-Ethiopian War in 1935.