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.
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