After a tense game which ended 1-1 after extra-time, penalties were needed to separate the boys from the men, and it was the visitors who held their own to triumph on the night.
Italy goalkeeper Gianluigi Donnarumma made two saves in the shootout from substitutes Bukayo Saka and Jadon Sancho while Marcus Rashford also missed to deny England a first major international trophy since 1966.
The unfortunate England trio were subjected to racist abuse online after the game and the FA have called for action to be taken against the perpetrators.
"The FA strongly condemns all forms of discrimination and is appalled by the online racism that has been aimed at some of our England players on social media," a statement read.
"We could not be clearer that anyone behind such disgusting behaviour is not welcome in following the team. We will do all we can to support the players affected while urging the toughest punishments possible for anyone responsible.
"We will continue to do everything we can to stamp discrimination out of the game, but we implore government to act quickly and bring in the appropriate legislation so this abuse has real-life consequences.
"Social media companies need to step up and take accountability and action to ban abusers from their platforms, gather evidence that can lead to prosecution and support making their platforms free from this type of abhorrent abuse."
