The event was also attended by major companies such as Audi, BMW, and Bosch.Continue reading
EU governments discussed trade issues between the U.S. and China in Luxembourg on Monday. At the meeting, the Hungarian Foreign Minister warned the EU leaders against premature reactions and retaliatory measures in view of escalating trade tensions with the two countries.
In a press conference following the EU Council meeting on foreign trade, Péter Szijjártó stressed that in the current situation, there should be no rush to act or retaliation, but instead strategic calm to prevent even more serious damage.
Hungary does not support the EU counter-tariffs because they would make U.S. imports more expensive, meaning they would cause a significant price increase for people of the continent,
the politician said. He pointed out that if the list drawn up by the Brussels panel were to be adopted, it would immediately mean an 18 billion forint (44 million euro) price increase in Hungary for certain products. He welcomed the fact that although Hungary’s “no” vote is not enough on this issue, “it has become clear that several Member States have a similar position.”
European Commission President Ursula von der Leyen reacted to the news by saying that the American tariffs would be a major blow to the world economy. Although she said she agreed with Donald Trump that others were taking unfair advantage of the current rules, she believed reaching for tariffs as a tool was not a solution. She warned that the European Commission is “now preparing for further countermeasures.”
Criticizing the European Commission, in particular President Ursula von der Leyen, he pointed out that “serious proposals could have been put on the table of the U.S. administration months ago and an agreement could have been reached on the basis of these proposals.”
He underlined that the EU should have reduced import duties on the U.S. automotive industry from the current 10 percent to 2.5 percent, as the same rate applies in reverse.
This could have provided a basis for negotiations that would have made it possible to avoid the 20 and 25 percent tariffs imposed on the European Union (…) In other words, what has happened could have been avoided,”
said the politician.
Strategic calm, not tariff war! pic.twitter.com/B91CIPxSDL
— Péter Szijjártó (@FM_Szijjarto) April 7, 2025
The minister also touched on the future of trade cooperation between Europe and China, calling the tariffs imposed on the Chinese electric car industry a mistake. He recalled that European automotive industry players had also protested vociferously against this move, “and it has been demonstrated once again that naturally established business-to-business cooperation should not be broken up by politics and that any such artificial interference can be very damaging.”
“It is no coincidence that major automotive players have taken the European Commission’s decision to the European Court of Justice. We have decided that the Hungarian government will intervene in the case on the side of the car manufacturers,” he said. “We have to realize that here in Europe there is no successful green transition without economic cooperation with China,” the minister emphasized.
Via MTI, Featured image: Pixabay