The 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. He noted 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.
Economy Minister Denisa Sakova said that the EU wants to negotiate and agree with the US to reduce the barriers and trade deficit that tariffs will bring. These will have a negative impact on the steel, aluminium and automotive industries throughout the EU. Sakova stressed that it is not only about saving the automotive industry, but also about helping small and medium-sized enterprises.
Martina Greňová Šimkovičová spoke to Martin Šuster of the Council for Budget Responsibility, Roman Karlubík, the Vice-President of the Association of Federations of Slovak employers, and Alexander Matušek, the President of the Slovak Association of Automotive Industry about the possible impacts of President Trump’s tariffs on Slovakia.
Impact of Trump s tariffs on Slovakia Máte problém s prehrávaním? Nahláste nám chybu v prehrávači.
Photo of Martin Šuster: asb.sk; Photo of Roman Karlubík: financnenoviny.sk; Photo of Alexander Matušek: hnonline.sk
