Italy did not sign a separate bilateral treaty with the United States. Instead, the Paris Peace Treaties (1947) collectively ended the war between the Allied Powers and Italy (plus Romania, Hungary, Bulgaria, Finland).
No separate US-Italy peace treaty. The 1947 multilateral treaty served that function. US ratified July 1947. Italy joined NATO (1949) and Marshall Plan—cementing the Western alliance.
The 1947 treaty remains the legal baseline. Later agreements (1954 London/Paris accords ending occupation, bilateral treaties) built on it.