Poland Faces PLN 8 Billion Loss from US Tariffs

Poland is expected to lose around PLN 8 billion (EUR 1.9 billion) due to the 15-percent tariffs imposed by US President Donald Trump on EU imports starting in August, Polish Prime Minister Donald Tusk reported, CE Report quotes PAP

Tusk acknowledged the tariffs are half the initially proposed 30 percent but warned there is no reason to celebrate. He noted the losses are lower than the initially feared PLN 15 billion but stressed the impact will be significant on both sides of the Atlantic.

The tariffs follow a trade deal announced by European Commission President Ursula von der Leyen and Trump, reducing the tariff rate from 30 to 15 percent. As part of the agreement, the EU committed to purchasing US military equipment, energy worth USD 750 billion, and investing an additional USD 600 billion in the US.

Tusk concluded that a difficult trade agreement is better than a harmful tariff war between allies.