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New US tariffs may reduce Polish GDP by 0.4%: PM

03.04.2025 14:15
The introduction of new global tariffs by the United States may reduce Poland's gross domestic product by 0.4 percent, Prime Minister Donald Tusk estimated on Thursday.
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US President Donald Trump said on Wednesday that his administration would impose tariffs of at least 10 percent on most goods coming into America, with imports from the European Union, of which Poland is a member, facing a 20-percent tariff.

"According to a preliminary conservative assessment, the new US tariffs may reduce Poland's GDP by 0.4 percent, roughly meaning losses of over PLN 10 billion (EUR 2.38 billion, USD 2.64 billion)," Tusk wrote on X.

He added: "It is a severe and unwelcome blow, especially coming from our closest ally, but we will endure it. Our friendship must withstand this test."

In an earlier post, Tusk said: "Friendship means partnership. Partnership means really and truly reciprocal tariffs. Adequate decisions are needed."

Polish Finance Minister Andrzej Domański said on Thursday that Trump's move was bad news for consumers and businesses, but added that "Poland and Europe will emerge stronger from this."

EU vows response to Trump's new tariffs

The European Union on Thursday vowed to retaliate after Trump announced a sweeping set of new tariffs on imports to the United States, further escalating a global trade war.

The new rates range from 10 percent for some countries to 54 percent for China.

White House officials said they would impose specific reciprocal tariffs on roughly 60 of the "worst offenders," according to British broadcaster BBC.

Canada and Mexico are subject to separate tariffs of 25 percent.

In addition, Trump confirmed the beginning of a new American "25-percent tariff on all foreign made-automobiles," the BBC reported.

US President Donald Trump signs an executive order implementing new tariffs against America's trading partners in the Rose Garden of the White House in Washington on Tuesday, April 2, 2025. US President Donald Trump signs an executive order implementing new tariffs against America's trading partners in the Rose Garden of the White House in Washington on Tuesday, April 2, 2025. Photo: EPA/JIM LO SCALZO

European Commission chief Ursula von der Leyen said in an X post on Thursday that the universal tariffs announced by Washington "are a major blow to businesses and consumers worldwide."

She added that "Europe is prepared to respond."

"We'll always protect our interests and values," von der Leyen declared. "We're also ready to engage. And to go from confrontation to negotiation."

Polish Foreign Minister Radosław Sikorski said on Wednesday that "only the EU" as a whole, not its individual member states, "can respond" to the new US tariffs.

He described the EU as "an economy comparable to the United States," adding that individual member states "on their own ... would be in a much worse position against powers such as China or the US."

Trump's move intensifies the trade war he reignited after returning to the White House in January, broadcaster CNN reported, saying that the tariffs were likely to increase costs for American consumers and push the US economy into a recession.

"It’s our declaration of economic independence," Trump said on Wednesday.

"Jobs and factories will come roaring back into our country, and you see it happening already," he added.

The universal 10-percent rate announced by Trump is set to take effect on Saturday, with the higher rates following on April 9, leaving room for negotiations with countries subject to tariffs above the baseline, CNN reported.

(gs)

Source: CNN, IAR, PAP, Reuters