Poland could lose over US$2bil due to US tariffs, says PM

Poland could lose over US$2bil due to US tariffs, says PM

Prime Minister Donald Tusk says a tough trade agreement is better than a senseless tariff war between allies.

Poland’s Prime Minister Donald Tusk said the losses due to US tariffs will be significant on both sides of the Atlantic. (AP pic)
WARSAW:
The new US tariffs on European products could cost Poland around PLN8 billion (US$2.16 billion), according to preliminary estimates, Polish Prime Minister Donald Tusk said today.

“The losses will be significant on both sides of the Atlantic, but a tough trade agreement is better than a senseless tariff war between allies,” he wrote on social media platform X.

The US struck a framework trade agreement with the EU on Sunday, imposing a 15% import tariff on most EU goods – around half the threatened rate – and averting a bigger trade war between the two allies that account for almost a third of global trade.

Poland does not export many products directly to the US, but expects to suffer knock-on effects as Polish companies are often subcontractors, and for instance, export car parts to Germany, which exports finished cars to the US.

The new 15% baseline tariff on US imports includes cars, a mainstay of central European exports.

Although below a threatened 27.5%, it is a big increase on the 2.5% before US President Donald Trump embarked on his global tariff announcements following his return to office in January.

Other countries in Central Europe also said the deal had eliminated uncertainty that has disrupted transatlantic trade, but said they expected a hit from the new tariffs.

The Czech finance ministry said on Tuesday US tariffs will slow Czech economic growth by 0.2 percentage points for the remainder of the year and by 0.39 percentage points in 2026, citing preliminary estimates.

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