Markets worry about global economy's development in coming quarters - finance minister
After the US administration imposed tariffs, there is a lot of concern in the markets about the development of the global economy in the coming quarters, Poland's Minister of Finance Andrzej Domanski told a meeting with automotive sector representatives. He added that exports to the US are very important for Poland.
"The impact of the US administration's decision to impose tariffs, universal tariffs of 10 percent, but also tariffs on a number of countries, including the EU, will certainly be significant for the global economy," Domanski said.
"We have already seen this in recent days on the markets, on the stock exchanges - falling indices, falling prices of raw materials such as oil or copper, which show that there is a lot of concern about how the world economy will develop in the coming quarters and years," he added.
He added that exports to the US are very important for Poland.
"For Poland, exports to the US are important, the US is our eighth largest export market, and in so-called value added it is the second largest market. That is why we want to meet with representatives of those sectors of our economy that are the drivers of Polish exports," Domanski told the meeting.
"Certainly, the automotive industry is such a sector - 8 percent of our GDP and very high employment. It is also often the area where we have seen very high investments in recent years. We are keen to see these investments continue," he added.
On Tuesday, a meeting is being held at the Chancellery of the Prime Minister with PM Donald Tusk and government representatives with representatives of the Polish automotive industry on the new tariffs introduced by the US.
pat/ han/ nl/