25% tariffs imposed by the U.S. on EU goods and services to negatively affect economic growth and drive up prices, Slovak Central Bank Governor Peter Kažimír said. He also described the situation as a critical turning point with serious economic consequences. While such risks had been considered in forecasts, he stressed that they must now be taken more seriously. He noted that the EU’s response is still uncertain, but warned that the tariffs would weaken economic growth, destabilize the labor market, and drive up prices. Kažimír expects the EU to retaliate with countermeasures, but urged a diplomatic approach. He emphasized the need for a rational approach, urging the EU and its member states to engage in dialogue with the U.S. to find common ground and address any trade disputes.
Meanwhile, European Commissioner for Trade and Economic Security, Maroš Šefčovič, will continue talks with U.S. counterparts on Friday (April 4) to address President Donald Trump’s newly imposed tariffs. These tariffs, including a 20% levy on all products and a 25% tariff on cars, continue to raise concerns in the EU. Šefčovič stated on social media that "unjustified tariffs will backfire" and emphasized the EU's calm, unified, and phased approach. He also stressed that the EU would allow time for negotiations but would not remain passive if a fair agreement is not reached.
Šefčovič has met with senior U.S. trade officials twice this year, urging cooperation on reducing car tariffs and certification processes instead of imposing new tariffs. European Commission President Ursula von der Leyen also stressed the importance of continued talks and voiced support for Šefčovič's approach.
Source: TASR
