Hungary ruled out cutting economic ties with China due to US pressure

Hungary will not cut trade and economic ties with China amid US pressure. This was announced on April 28 by the country's Minister of Economy Marton Nagy.

According to him, Budapest also believes that Washington is inferior to Beijing in terms of investment potential.

"We do not see the investment potential of the United States, which would be on a par with China," Bloomberg quoted the minister as saying.

In addition, Nagy called Hungary's position very pragmatic.

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Hungarian Foreign Minister Peter Szijjarto said on April 9 that Budapest believes that Europe should come to the negotiating table with the United States on trade duties. In his opinion, the introduction of retaliatory duties will cause even greater damage to the European economy and the residents of the bloc, since such a step will only spur price increases.

On April 2, US President Donald Trump announced large-scale measures: base tariffs of 10% are being introduced for all products supplied to the United States. For the EU, this figure has been raised to 20%, and for China — to 34%. In his speech, the president called April 2 the day when Americans will become rich again.