US steel and aluminium tariffs may have little impact on Slovakia, for now

Increase of US tariffs on cars may be painful for Slovakia.

(Source: Courtesy of USSK)

The tariffs the USA is imposing on the import of steel and aluminium may not have any significant direct impact on the economy of Slovakia. This is because the exports of these commodities from Slovakia to the USA make up only small portions of total volume. However, if the USA increases tariffs on imported cars, as US President Donald Trump is threatening in this looming tit-for-tat trade war, this may be painful for the Slovak automotive industry, especially the oldest car producer in Bratislava.

US President Donald Trump has signed the order to hit steel imports with a 25 percent tariff and aluminium imports with a 10 percent tariffs with national security justification on March 8, excluding Mexico and Canada for now. They should become effective later next week.

For now, it is difficult to estimate the direct impact of the tariffs on Slovakia but in terms of small exports of Slovak steel, iron and aluminium to the USA, these are not expected to be significant.

“It is difficult to assess the impact of adopted measures on Slovakia’s economy as they will have a global impact for now,” Maroš Stano, spokesperson of the Slovak Economy Ministry told The Slovak Spectator.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

Top stories

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Half of all parents lack time to help their children with distance learning

Some have a hard time motivating their children, others do not understand the curriculum.

What brands should do in a pandemic of distrust

Strategic communication lessons of the COVID-19 pandemic summarized and explained by experts from Seesame.

Illustrative stock photo

Want to publish a book? You can do it yourself

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.