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Recently, much attention has been paid to the import duties introduced by the United States (US). Their changes in the future could affect the Latvian economy, especially since the US tariff policy also affects the European Union (EU).

It should be recalled that the new US import tariffs came into effect this week. EU goods have a 20% tariff, which was postponed for 90 days. Given the rapid decisions of US President Donald Trump, the size of the tariffs and the common US trade policy may change.

For the time being, Latvian industry is more influenced by other factors than the US, including geopolitical instability in Europe and the lack of necessary employees in our country.

Lithuania, Estonia, Germany

Export markets « Demand for Latvian products is increasing, but total production volumes are still at low levels. This makes caution, » the Ministry of Finance describes the situation, adding that « the US import tariffs are generating new risks ».

It should be recalled that last year Latvia exported goods to more than 200 countries, but the three most important export markets were Lithuania, Estonia and Germany. Similar trends continue this year. In January