The tariffs imposed by the Trump administration have created an unprecedented situation, but the European Commission must negotiate with the US within 90 days, and Romania must work on „safety” measures for its automotive industry and other industries that may be affected by the new customs duties, finance minister Tanczos Barna wrote on his Facebook page on Saturday.

„The effects of trade tariffs and financing defence are the main topics we discussed these days in Warsaw, at the informal meeting of EU finance ministers (ECOFIN). The tariffs imposed by the Trump administration have created an unprecedented situation, and the European Commission and the member states have done exactly what they should: they have shown calm and stayed united. It is almost impossible to estimate the consequences of this trade war today. There can certainly be – and there will be – negative effects, but there are many specialists who also predict possible positive effects on the economy, even a positive effect on the development of inflation in the European Union. What we need to do next: the Commission to negotiate with the US within the 90 days, and Romania to work on „safety measures” for its automotive industry and other industries that may be affected by the new tariffs,” the relevant minister emphasised.

According to the official, during the meeting in the Polish capital, he addressed topics related to both the new financing package for the defence industry in the European Union and the financing of acquisitions in the field of endowment of the member states’ armies.

„For Romania, both are essential: in addition to the endowment obligations, we cannot miss this opportunity for industrial development, with positive effects both in the fiscal-budgetary field and in that of employment,” Tanczos Barna mentioned.

AGERPRES