Governor Kažimír on U.S. tarrifs

Governor Peter Kažimír addressed local media on the sidelines of a parliamentary committee meeting. Journalists inquired about his perspective on the announcement of tariffs.

„This is probably a historic moment—small European and American ‘Armageddon’.”
 
These developments are, to a large extent, already factored into our forecasts — among the worse scenarios we must brace for.
 
We still need to wait for the European Union’s response.
 
Tariffs, in any case, weaken economic growth, dent positive sentiment in the labour market, and indeed have some impact on prices. Tariffs primarily affect prices.
 
Should the European Union respond with its own tariffs, it would mean that American products coming to the European market would be subject to tariffs, and thus, their prices would rise.
 
We need to see the European Union’s response. Nevertheless, this is not good news for the economy.
 
The EU and all its countries will call for common sense. For sitting together around a table, and for being capable of meeting the U.S. side halfway and solving problems between us – if there are any.“

Peter Kažimír, governor