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Vaidere: US tariffs will lead to increased costs on both sides of the Atlantic

TVNET

Latvia

Friday, April 4


She is not convinced that US President Donald Trump is fully aware of the consequences of his decisions. According to the politician, Trump may still be"playing to the public" when he talks about restoring US greatness.

Vaidere pointed out that the development of free trade on a global scale and the balance of trade has made it possible to keep the prices of goods at a certain level, to reduce their increase due to competition. However, with the entry into force of the tariffs imposed by the US, goods will inevitably become more expensive both in the EU and the US. The MEP explained that the EU has a positive trade balance with the US.

She stressed that the European car industry, especially in Germany, where cars are often purchased by US residents, will suffer from US tariffs. The MEP pointed out that in the US it is considered prestigious to drive a Mercedes or BMW.

In her opinion, regarding Latvia, initially, after the introduction of these tariffs, a major impact on the Latvian economy is not expected, because Latvia's trade with the US is small, however, over time Latvia will certainly also feel the impact of trade restrictions, taking into account that the Latvian economy is closely linked to other EU countries.

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