Warsaw: Polish Finance Minister Andrzej Dumanski revealed Monday that EU finance ministers will discuss, during their meeting next Friday in Warsaw, how to deal with the expected impact on economic growth of the tariffs imposed by the United States on imports.
According to Qatar News Agency, Dumanski, whose country holds the current EU presidency, said that the meeting ministers will need to consider further integration within EU markets in response to the imposition of these tariffs.
In a letter to his EU counterparts, the Polish finance minister indicated that disrupted supply chains and rising costs for businesses will impact growth rates and European currencies. He added that there will be negative social consequences, as prices for consumers will rise.
He indicated that the meeting will focus on the broader economic repercussions. Dumanski concluded his message by saying, “Removing regulatory barriers to trade between EU countries must be the natural response to the US decision, and demonstrating EU unity must be one of the main objectives of the meeting. Our strength lies in our cohesion.” Last Wednesday, the United States imposed 25 percent tariffs on European steel, aluminum, and car imports, and 20 percent on all other goods.