Šefović: Trade dialogue with the USA continues, negotiations ongoing with other countries

Bratislava – The Visegrad 4 Business conference held on Tuesday in Bratislava highlighted the critical need for collaboration between the public and private sectors during these turbulent times, according to European Commissioner for Trade and Economic Security Maroš Šefčovič. He emphasized the importance of frequent communication to address the challenges at hand, as reported by TASR.

The conference also saw the participation of Richard Raši, Speaker of the National Council of the Slovak Republic and Vice-Chairman of Hlas-SD, along with Lukáš Parízek, Chairman of the Council of Slovak Exporters and organizer of the event.

Regarding American tariffs, Šefčovič indicated that specific negotiations are currently in progress. He noted that last week, teams focused on evaluating over 1000 customs items to understand applied tariffs and customs rates, aiming to bolster the positive trade balance between the EU and the United States in goods. He described the collaboration with the American trade representative as optimistic and pledged to strive for a favorable agreement swiftly.

Šefčovič pointed out that while the U.S. comprises 13 percent of global trade, the EU remains focused on the other 87 percent. He is engaged in negotiations with nations such as India, Indonesia, the Philippines, Thailand, Malaysia, and the United Arab Emirates. He also emphasized the significance of the EU’s relationship with China, highlighting ongoing discussions about the operational conditions for European companies there.

He noted concerns regarding the supply of rare earths and magnets, which are in shortage in the EU. Raši cautioned that any customs barriers between the U.S. and the EU could adversely affect employment, investment stability, and social cohesion, warning of the risks associated with a potential escalation in the trade war.

“We advocate for dialogue, de-escalation, and European solutions that enhance competitiveness without undermining trust in the transatlantic partnership,” asserted the Speaker of the National Council.

The Visegrad 4 Business conference attracted over 500 participants from Slovakia, the Czech Republic, Hungary, and Poland. Since 2022, it has been co-organized by four business organizations from the V4 region: the Council of Slovak Exporters, the Czech Exporters Association, the Hungarian Entrepreneurs Club MAPI Club, and the Polish Economic Forum. This year’s key topics include trade relations between the V4 and the U.S., the automotive sector, EU competitiveness, and the trade potential of the V4. (June 10)