America & # 39; s first, America & # 39; s first, is a slogan with which Donald Trump won the presidential election. A specific expression of this slogan is the protectionist measures where the current president is very close. The EU is right now when it is worried about the upcoming rates for cars from Europe on the American market. Their introduction is also felt by Slovakia.
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Donald Trump intends to impose a 25% tax on the production of cars from the EU. US Secretary of Commerce, Wilburg Ross, said the US government is publishing the impact study.
On Sunday, Donald Trump was chairman of Jean-Claude Juncker, President of the European Commission. The EU has agreed with the American partners on the wording of the common position. This opinion avoids the current tensions surrounding the automotive industry, but the leaders say they will work together. "We agreed that we will work together to create space without barriers, tariffs and various subsidies for industrial production outside of cars," the statement said.
Together the EU and the US account for more than half of the world economy's performance and the volume of joint trade amounts to USD 1 trillion. No other two entities achieve such values.
Customs can, however, threaten both the EU and the US. "The announced increase in passenger fares from Europe is not good news for the EU or the US. In the case of the US, this will increase prices for domestic consumers, not just in the case of European cars, but as the tax also applies to components, American cars can also rise.Only just over half of the cars that were sold in the US were produced in the past year and car & # 39; s that were made in the US also used imported components from abroad.The new measure could therefore also have negative consequences for US jobs.For European cars, higher tariffs mean lower competitiveness on the American market. market because they will lead to an increase in their price, "said Katarína Muchová, an analyst at Slovenská sporiteľňa.
At the same time, he points out that Slovakia will also feel the impact. "If this step of protectionism is really implemented in world trade, we can feel the impact even in Slovakia, albeit not big, the US is not our biggest business partner." Exports of goods from Slovakia to the US were just under 3% of GDP. total exports, but more than two-thirds of them are cars, for example, 20% of the total exports of the Volkswagen plant in Bratislava to the US last year, but these are mostly luxury vehicles with price sensitivity lower than in the case of lower cars, so the impact would not be so great, and, to a certain extent, car manufacturers would be able to redirect their exports originally to the US to other markets and further refine the impact of this measure. "says Muchová. "All in all, we expect a more modest direct effect of higher rates, around 0.1% of GDP," he adds.
For the time being, it is only the testimonies of President Trump, who are not mentioned by Slovakian politicians. "We do not consider such a way of communicating and we will not consider good allies and friends," said Martin Klus (SaS). He also said that this step would cause problems with Volkswagen in Bratislava, which exports every fifth car to the US and in the near future also the Jaguar Land Rover. "Moreover, it is worth noting that the ratio of car exports to the US to Slovakia's GDP is significantly the highest in all EU countries and will therefore have a negative impact on the Slovak economy," he said.