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Saková believes that the USA will delay tariffs and agree with the EU; the opposition calls on the government to save and support the economy

by AI | 27.Mar 2025 | Europe in brief AI

Denisa Saková expressed hope that the USA and the EU will reach an agreement and will not impose new tariffs on cars from April 2nd.

Economy Minister of the Slovak Republic Denisa Saková hopes that the USA will reach an agreement with the EU and will not impose new tariffs. PHOTO: TASR

Bratislava – American tariffs on car imports, which are set to come into effect from April 2, will have a negative impact on the Slovak economy, gross domestic product, and employment. The government should strive to prevent the escalation of a trade war at the EU level, while also supporting new investments and eliminating measures that discourage companies from doing business in Slovakia. This was stated on Thursday by opposition parties Freedom and Solidarity (SaS) and Progressive Slovakia (PS). Minister of Economy of the SR Denisa Saková (Hlas-SD) expressed hope that the tariffs will be postponed, TASR reports.

Minister Saková, in connection with the possible tariffs, reminded that the Slovak EU Commissioner responsible for EU trade policy, Maroš Šefčovič, has already been to the USA twice on business to negotiate a tariff agreement. She expressed hope that US President Donald Trump will postpone their validity, as was the case with Mexico.

Changes that would help Slovak car manufacturers, however, are mainly within the competence of the companies themselves, according to her. They could transform production to types that are not so dependent on exports to the USA.

Chairman of PS Michal Šimečka reminded that a large number of jobs are at risk. “We must protect not only the jobs of those people but also help the Slovak automotive industry, because it is still the backbone of our economy,” he emphasized. The leader of PS added that retaliation for tariffs must be European, but he also reminded of Prime Minister Robert Fico’s (Smer-SD) trip to the USA, where he was supposed to also strive to avert tariffs. “So if the goal was to avert this trade war and prevent the introduction of tariffs, the result is zero,” added Šimečka.

MP for SaS Marián Viskupič stated that the government should more support domestic industry and remove obstacles that deter investors from coming to Slovakia. He argues that although at first glance it appears that the most logical solution would be the introduction of EU retaliatory tariffs, on a similar scale towards the USA, in reality, according to him, a trade war would have much more negative consequences for the European Union than for the USA.

American tariffs on car imports will reduce the growth of Slovakia’s gross domestic product, according to Slovenská sporiteľna analyst Matej Horňák, cumulatively by 1.5% over the next three years. This will bring a loss of billions of euros in exports and a significant negative impact on the labor market in the form of an increase in unemployment by several tenths of a percent. (March 27)