Kazimir: Trump's Tariffs to Drive up Prices

Bratislava, April 3 (TASR) - The 25-percent tariffs imposed by the United States on all goods and services from the EU will adversely impact both the economic growth and prices of goods, Slovak Central Bank Governor Peter Kazimir declared on Thursday. "This is likely a watershed moment - a kind of little European and American Armageddon. Most of it is stuff we had in our prognoses and those are worse scenarios we need to take into account now. We need to wait for the response by the European Union yet. At any rate, the tariffs mean the erosion of economic growth, danger to the good sentiment on the labour market but also adverse effects on prices because tariffs impact prices first and foremost," stated Kazimir. Kazimir expects the EU to strike back with some countermeasures. "We'll call on the EU and all its countries to apply common sense. We need to sit down together around a table and seek how to meet the American side halfway, and if there are some problems between us, address them," added the Slovak Central Bank Governor. mf