Belgium has warned that newly announced U.S. import tariffs could weaken its economic growth, even as Washington presses allies to ramp up defence spending.
Belgium's foreign minister has raised concerns over the impact of new U.S. import tariffs, warning they could slow economic growth at a time when Washington is simultaneously urging allies to boost their defence budgets.
"These tariffs will inevitably affect Belgian businesses and citizens—through weaker economic growth—precisely as the U.S. is asking for increased defence spending," said Maxime Prévot on Thursday.
The warning comes after former President Trump announced a sweeping 10% minimum tariff on most imports into the U.S., with an even steeper 20% rate for goods from the European Union. The move escalates trade tensions globally, raising fears of inflation and a slowdown in both U.S. and global economic growth.
Read next
05:30
U.S. President Donald Trump’s inner circle is advising him against speaking with Russian President Vladimir Putin unless Russia commits to a full ceasefire in Ukraine, NBC News reported on Thursday, citing administration officials.
04:16
Kirill Dmitriev, Russian President Vladimir Putin’s investment envoy, is visiting Washington this week for talks with members of the Trump administration, sparking fresh speculation over behind-the-scenes diplomacy between Moscow and Washington.
03:06
A Russian drone strike hit residential buildings in Kharkiv late on Thursday, killing at least two people and injuring 32 others, Ukrainian officials said, as nightly attacks on the country's cities continue to mount.
02:18
In Sydney’s Bennelong, where Chinese Australians make up a large share of the electorate, the fight for votes is playing out on unexpected turf: Xiaohongshu.
01:55
Leaders from Central Asia and the European Union will meet in Samarkand on April 4 for the first-ever EU-Central Asia Summit, aimed at deepening ties. Talks will focus on trade, investment, green energy, and security — marking a new era of cooperation.
What is your opinion on this topic?
Leave the first comment