Central European economies brace for blow from U.S. car tariffs
American car tariffs could seriously harm the economies of Slovakia, Hungary, and Slovenia. Despite his previous support for Trump, Slovakia's Prime Minister, Robert Fico, fears the effects of the new tariffs. Hungary and Slovenia may also experience negative consequences.
Slovakia's Prime Minister, Robert Fico, known for supporting Donald Trump, now fears the effects of American car tariffs. As reported by Frankfurter Allgemeine Zeitung, Slovakia, where the automotive industry employs 200,000 people, could be one of the countries most affected by the new tariffs. Experts predict that Slovak exports could fall by as much as 74 percent.
Slovakia, Hungary, and Slovenia may feel the negative effects of American tariffs. The Hungarian Prime Minister, Viktor Orban, although a supporter of Trump, does not blame him for the tariffs but criticises the European Union.
"Frankfurter Allgemeine Zeitung" notes that Slovenia, with its developed pharmaceutical industry, may also suffer, even though Trump's wife, Melania, comes from this country.
Tariffs will ricochet
Although Central European countries' direct trade turnover with the USA is not large, their economies are closely tied to the European automotive market.
"Frankfurter Allgemeine Zeitung" quotes Zdenek Zajicek of the Czech Chamber of Commerce, who emphasises that a reduction in car exports to the USA will affect orders for Czech components, which could have wide-reaching consequences for the region.
