The Slovak automotive industry is already feeling the punch from new US import tariffs that have either come into effect or will start on August 1st. Slovakia’s Economy Minister Denis Sakova warns of a drop in orders in the third quarter, with two major manufacturers – Volkswagen and Jaguar Land Rover – especially hit by reduced exports to the US. These tariffs, ranging from 10 to a staggering 70 percent, were announced by US President Donald Trump, with a deadline for final decisions on July 9th. The Trump administration has already sent official notifications to trade partners, and these tariffs are part of a broader trade war threatening to wreck the European auto industry. While the US has struck trade deals with Vietnam, China, and the UK, Europe remains in the crosshairs. Slovakia, one of the region’s biggest car producers, now faces serious trouble, with falling orders risking thousands of jobs and the entire economy. Will Europe stand up to this pressure, or are these US tariffs the beginning of the end for the regional auto industry? Drop a comment if you think this is just the start of chaos or if Europe should hit back just as hard!
