È tardi; tuttavia, aspettiamo.

Because è is the verb essere in the he/she/it is form, and in Italian it is written with a grave accent: è.

This matters because e without an accent means and.

So:

• è = is
• e = and

That is a very common distinction in written Italian.

In È tardi, tardi means late, and this is a fixed, very common Italian expression meaning It’s late.

Here, tardi is being used adverbially, not as a regular adjective agreeing with a noun. That is why it does not change to match gender or number.

Compare:

• È tardi = It’s late
• Arrivo tardi = I arrive late / I’m arriving late

So even though English uses late in a similar way, Italian often uses tardi unchanged in these time expressions.

Tuttavia means however, nevertheless, or all the same.

In this sentence, it introduces a contrast:

• È tardi = It’s late
• tuttavia, aspettiamo = however, we wait / nevertheless, we wait

It is a bit more formal or literary than everyday words like:

• ma = but
• però = however / but
• comunque = anyway / still

So this sentence sounds correct, but slightly more formal than everyday spoken Italian.

The semicolon helps mark a strong pause between two closely related independent clauses:

• È tardi
• tuttavia, aspettiamo

This is similar to formal English punctuation with however.

The semicolon is not the only possibility, but it is very natural in careful writing. You may also see:

• È tardi. Tuttavia, aspettiamo.
• È tardi, tuttavia, aspettiamo.

The version with the semicolon gives the contrast a particularly clear written structure.

Because tuttavia is being used as a linking adverb, and it is often set off with punctuation in writing.

So:

• È tardi; tuttavia, aspettiamo.

This is similar to English However, we wait.

In less formal writing, punctuation around words like tuttavia can vary, but the comma here is standard and helps readability.

Aspettiamo is the 1st person plural present indicative of aspettare.

It means:

• we wait
• we are waiting

Italian present tense often covers both the simple present and the present progressive, depending on context.

So aspettiamo can mean either a general present or an action happening now.

Because Italian usually drops subject pronouns when the verb ending already makes the subject clear.

The ending -iamo tells you the subject is we.

So:

• aspettiamo = we wait

You could say noi aspettiamo, but that would add emphasis, something like:

• we are waiting

Without noi, the sentence sounds neutral and natural.

Yes, in some contexts aspettiamo can also function as a let’s form, because the 1st person plural present and the 1st person plural imperative look the same.

So depending on context, aspettiamo might mean:

• we wait / we are waiting
• let’s wait

However, in È tardi; tuttavia, aspettiamo, the most natural reading is the statement we wait / we are still waiting, not a suggestion.

If the speaker clearly wanted to say Let’s wait, the context or intonation would usually make that obvious.

Not necessarily. Aspettare can be used:

• with an object: Aspettiamo Marco = We are waiting for Marco
• without an object: Aspettiamo = We are waiting

When no object is given, Italian leaves it understood from context, just as English can.

So this sentence does not say what is being waited for; it only states that, despite it being late, we are waiting.

It is correct Italian, but it sounds a bit formal because of tuttavia and the punctuation.

In everyday speech, many Italians would be more likely to say something like:

• È tardi, ma aspettiamo.
• È tardi, però aspettiamo.
• È tardi; comunque, aspettiamo.

So the original sentence is perfectly good, but it feels more like careful written Italian than casual conversation.