“Lithuania does not change the plan – [we] will promote export market diversification. US President Donald Trump’s 90-day pause postpones just half of the previously announced 20% tariffs,” Savickas said in a statement.
President Trump on Wednesday announced a pause on some tariffs but the 10% “baseline” rate and 125% tariffs on China.
According to Savickas, companies does not have time to wait for „political waves to subside over the Atlantic“.
“To put it simply, the 10% rate has in fact taken effect, so the decision does not change our plan. This is a period of uncertainty where we must act and not just sit in the place of an observer,” he stressed.
The Ministry of the Economy and Innovation last week launched a support package valued EUR 20 million to help Lithuanian exporters to the US find new markets and diversify exports. Whereas the Ministry of Foreign Affairs has opened a hotline for business consultations.
“Market diversification is not just a response to uncertainty but our long-term goal. The tariff policy is the European Union’s competence. We support a unified response and a joint economic logic, not a logic of hostages. A pause is a good time for wise agreements,” said Savickas.