The Hungarian government will not support EU retaliatory measures on US imports, according to Foreign Minister Peter Szijjártó following a cabinet meeting on Wednesday. This measure would cause significant price increases. Instead, the government should negotiate a reduction in tariffs, Szijjártó suggested. “Unfortunately, the EU has made a serious mistake and could have prevented the development of this situation. But now, since it did not, the most important thing is that Brussels does not worsen the situation further” the politician said. He emphasized that Budapest is determined to resolve the trade dispute with Washington through talks. The introduction of retaliatory tariffs would only cause more difficulties and further damage the EU economy, warned Szijjártó. The EU Commission has reportedly compiled a list of hundreds of US products on which it wants to impose tariffs. If this happens, it would mean a price increase of 18 billion forints (43.9 million euros) for Hungary, the minister said. Goods such as contact lenses, cosmetics and plastic pipes used in construction would become more expensive, he added. “We want to protect the Hungarian people from these further price hikes” the politician emphasized.
Hungary Vows to Oppose EU Retaliatory Tariffs on US Products Amid Trade War Talks
