Sakova: We Support Fair Trade with USA, But Will Protect Our Interests

Bratislava, May 15 (TASR) - The current negotiations on trade relations between the European Union (EU) and the United States were the fulcrum of a meeting of trade ministers from EU member states, which took place in Brussels on Thursday, TASR learnt from the Economy Ministry on the same day. Economy Minister Denisa Sakova (Voice-SD) reiterated at the session her support for a constructive dialogue aimed at stabilizing trade relations and minimizing negative impacts on European economies. "We appreciate the willingness of the United States to engage in dialogue, but the truth is that it's a complex and demanding process, the outcome of which will depend on mutual willingness to seek compromise. For Slovakia, as an open economy, maintaining a stable and predictable trade environment with the United States is essential. Our automotive sector directly and indirectly employs nearly 280,000 people, and we must protect them from such disproportionate barriers," Sakova stated. The ministry pointed out that several tariff measures are currently in effect, which the the US imposes on the EU. Sakova noted that these measures continue to create uncertainty for several key sectors, including the automotive industry, which is of exceptional importance to the Slovak economy. The European Commission, led by Vice-President Maros Sefcovic, should therefore continue negotiations with the goal of achieving a balanced and mutually beneficial solution. The ministry added that the EU is prepared to apply counterbalancing measures, including retaliatory tariffs, which were pre-approved as part of a defense mechanism against unilateral actions. "We are not trying to provoke or escalate a trade war, but trade relations with the United States must be fair and balanced. Such tension also highlights the importance of diversifying trade relations, for example, through free trade with Latin America or investment opportunities from China. Slovakia is fully aware of this, which is why we are developing trade relations with the growing economies of Asia," said Sakova. mf