Bratislava – The implementation of a 25-percent tariff on all goods and services traded from the EU to the United States is anticipated to adversely affect economic growth and product pricing. This issue was highlighted on Thursday by Peter Kažimír, the Governor of the National Bank of Slovakia (NBS), according to TASR.
“We may be experiencing a significant moment, akin to a small European and American Armageddon. These scenarios were already factored into our projections, representing some of the more unfavorable outcomes we must consider. We are still awaiting a response from the European Union. Ultimately, tariffs will lead to a slowdown in economic growth, pose threats to the positive sentiment in the labor market, and will impact prices, as tariffs primarily drive price increases,” Kažimír expressed.
The former Slovak Minister of Finance anticipates that the EU will respond with countermeasures, potentially imposing tariffs on select American goods and services entering the European market.
“The European Union and its member states will likely advocate for reason, encouraging dialogue at the negotiation table with American representatives to address any outstanding issues,” Kažimír elaborated on the situation. (April 3)
“We may be experiencing a significant moment, akin to a small European and American Armageddon. These scenarios were already factored into our projections, representing some of the more unfavorable outcomes we must consider. We are still awaiting a response from the European Union. Ultimately, tariffs will lead to a slowdown in economic growth.” – Peter Kažimír
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