Will Trump's tariffs break 'backbone' of Slovakia's economy?

Will Trump's tariffs break 'backbone' of Slovakia's economy?

With a range of automakers producing in Slovakia and a network of parts suppliers based there, the car industry is a major motor of the Slovakian economy. This makes the country highly vulnerable to Trump's car tariffs.

In January, Slovak exports of arms and ammunition were more than half higher year-on-year. Some coalition politicians are considering an extraordinary tax on armaments. Slovakia recorded record exports of weapons and ammunition last year. This was mainly caused by the Russian invasion of Ukraine, which triggered an increase in defense investment across Europe. In the coming years, this trend will be even more pronounced as America leaves Europe …

The Slovak economy will be most damaged by the transaction tax, as well as the imposed tariffs on the export of all goods and services from the European Union to the United States. On the tariffs, opposition parties Progressive Slovakia (PS) and Sloboda a Solidarita (SaS) on Wednesday criticised the government for not coming up with any measures so far. Disaster for Slovakia “The new tariffs will damage Slovakia perhaps the most of all European …

Woodsmoke - The Hardwick Gazette

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