Slovak industrial associations warn that Donald Trump’s proposed tariffs on EU goods could lead to thousands of job losses in Slovakia. If tariffs make Slovak exports to the U.S. more expensive, demand could decline, mainly in the automotive sector, which accounts for 65% of Slovakia’s $4.5 billion annual exports to the U.S. Experts explain that Trump’s goal is to make foreign products more expensive so that Americans buy domestic goods instead. A 10% tariff on luxury cars could reduce production in Slovakia by €150–300 million, potentially increasing unemployment by over 13 000 people. Slovakia could potentially be the hardest-hit EU country.
Source: STVR
Patrícia Polakovičová, Photo: TASR
