Trump's duties will not hurt anyone more than Slovakia, Fico's pleasure is a bitter aftertaste
27. Feb 2025 at 17:54
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Slovakia is dependent on car exports to the US.
US President Donald Trump He announced that the US will soon introduce duties to import from the European Union (EU) of 25 percent.
He claims that exports of European countries are higher than imports, which it considers unfair. The European Union responds that it will respond to higher duties by countermeasures.
Trump is unleasing a customs war with the largest business partners. Except for the EU they are also Mexico and Canada, where they should pay 25 % from March 4. Tightening of customs policy cannot turn out well especially for small and open economies. The wound is especially Slovakia.
1. Why does Trump hinder a business deficit?
Trump perceives a business deficit as a sign of economic imbalance that damages the US economy. By buying European products, Americans support jobs in Europe instead of those at home.
In the automotive industry, he pointed out that German brands such as BMW or Mercedes sell millions of cars in the US, while US companies such as Ford and GM have a much smaller share in the EU.
His customs policy is a free continuation of his first administration (2017-2020), when he described the EU deficit (at that time he reached $ 151 billion) as unacceptable.
It uses a business deficit as a tool for mobilizing voters, especially in countries such as Michigan or Ohio, where he promised voters the return of production and jobs in industry. EU accusation, as well as Mexico and Canada fits into the rhetoric « America First », based on the misconception that the largest business partners are abusing American generosity.
2. What does Trump are introducing?
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