Viktor Orbán has previously announced that he has reached an agreement between Hungary and the United States on an economic cooperation package, noting that this would help the Hungarian economy and could offset the effects of potential American tariffs.
Orban, a consistent supporter of US President Donald Trump, said the economic package would expand on the already existing political alliance between Hungary and the US.
An economic agreement of this kind would help Hungary even if a trade war broke out between the US and the European Union.
The US president said last week that his administration would soon announce 25% tariffs on goods from the EU.
"Hungary will suffer losses (in a trade war), like all European Union states. We do not yet know the extent, but we can be sure that it will happen," Orbán said in a speech to the Hungarian Chamber of Commerce and Industry.
He added that Hungary has a good chance of reaching an agreement with Washington and that the package should be able to limit or completely nullify the effects of a potential trade war within Hungary.
"Hungarian officials are already negotiating the renewal of a tax treaty between the two countries, which was terminated by the previous US administration," Orban added.
Other elements of the agreement will help Hungary "compensate, at the national economic level, the damage that will be caused to Europe by US tariffs and will constitute compensation both in monetary terms and in terms of the real economy" . (A2 Televizion)
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