BRATISLAVA – After US President Trump announced new 25% tariffs on “all cars not made in the United States,” Bratislava has warned of serious consequences for Slovakia which is a global leader in vehicle production per capita.
Slovak Economy Minister Denisa Saková (Hlas-SD) reacted to the newly announced US tariffs on Thursday, warning that Slovakia would definitely be “among the top three” most affected countries in the EU.
“We still hope that the tariffs will be postponed somehow – just like in the case of Mexico and China. If they are not postponed, we will have to deal with it somehow,” Saková said at a press conference.
Slovakia is an automotive powerhouse. In a country with 5.4 million people, about one million vehicles were produced last year. The automotive industry is the driving force of the country’s economy, employing approximately 200,000 people.
Slovakia hosts four car manufacturers, supported by a number of component producers. In addition to Kia Motors, Jaguar Land Rover, Stellantis, and Volkswagen, a Volvo factory will soon join them.
Saková noted that two of these manufacturers produce cars for the European market, meaning the impact of the tariffs would be less severe compared to the other two, which export to the US.
If the tariffs do indeed come into effect, she said, it will be necessary to wait for retaliatory EU tariffs and see what Slovak European Commissioner for Trade Maroš Šefčovič can negotiate.
The Slovak opposition has also been sounding the alarm over the damaging impact of the tariffs on the economy.
Opposition parties Progressive Slovakia (PS/RE) and Freedom and Solidarity (SaS) stated that the Fico government should work within the EU to prevent the escalation of the trade war, encourage new investments, and remove measures that discourage businesses from operating in Slovakia.
They also criticised PM Robert Fico (Smer-SD/NI) for failing to prevent the tariffs. They referred to Fico’s February trip to the USA and his meeting with Elon Musk, where he supposedly tried to avert the tariffs.
“Fico ran to the US after meeting with Putin, just to take a photo with Musk. Although he told the public they were discussing tariffs, we see no result,” SaS leader Branislav Gröhling pointed out.
Other opposition members, including the non-parliamentary Democratic Party, made up of several ministers from the former government of Eduard Heger (2021 – 2023), also joined the criticism.
“Robert Fico has completely missed the mark. For months, he’s been focusing on issues that are irrelevant for Slovakia, while ignoring the most important thing – the automotive industry, the backbone of our economy,” said former Prime Minister Heger.
(Natália Silenská | Euractiv.sk)