Hungary describes current EU economic direction as Cold War

Budapest, Oct 4 (Prensa Latina) The European Union is waging an economic Cold War, limiting its own growth and reducing competitiveness, Hungarian Prime Minister Viktor Orban said.

October 4, 2024
08:11

“This Cold War is a great danger for our country because it affects, first of all, our export-oriented economy. We have to fight it,” Orban stressed.

Hungarian Foreign Minister Peter Szijjarto indicated that Budapest would not support the EU’s initiative to introduce compensatory measures against electric cars imported from China.

The European Commission (EC) announced the introduction of temporary higher taxes on Chinese-made cars starting July 4th, and in September announced a proposal to introduce them permanently, with the exception of Tesla electric vehicles made in China under license.

Beijing protested this EC initiative before the World Trade Organization, sending a request for consultations with the EU.

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