US tariffs can have impact on Poland's GDP growth, says FinMin
Poland's economy is planned to expand by 3.9 percent in 2025 but following the imposition of US tariffs on European goods, there is a slight risk than this forecast can be downgraded, the finance minister has said.
"Our GDP growth forecast for this year speaks about 3.9 percent, and, for the time being, we stick to it," Minister Andrzej Domanski told reporters on Saturday.
"But we also see the tensions caused by the imposition of US tariffs, so there is a risk that this forecast will be reduced," he continued.
However, Domanski said that, in his opinion, this risk is rather small.
In accordance with the budget law for 2025, the GDP is expected to increase by 3.9 percent and inflation is planned to amount to 5 percent.
On April 10, US President Donald Trump temporarily suspended the recently imposed 'reciprocal' tariffs for a 90-day period.
Earlier the American president introduced extensive new tariffs, which he labelled 'reciprocal,' with rates differing by region. For instance, the European Union faced a 25-percent tariff, Taiwan was subjected to a 32-percent tariff on most exports to the US, and China initially faced duties of 104 percent. The announcement detailed various levies with differing percentages for each trading partner, alongside a baseline tariff of 10 percent. (PAP)
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