US Tariffs Hit Central Europe, Balkans Growth: Europe Bank

Source: International Business Times

Many Central European and Balkan states rely on exports to Germany to support their economies AFP Economic growth in Central Europe and the Balkans is expected to be strained this year by US President Donald Trump's tariff policies, Europe's development bank forecast Tuesday. The London-based European Bank for Reconstruction and Development has downgraded its growth forecast for the regions, anticipating tariffs fallout owing to their heavy dependence on Germany's struggling economy. The United States in April imposed a 10 percent "baseline" tariff on nearly all US trading partners, along with sector-specific levies of 25 percent on cars, steel and aluminium.