Austrian experts expect their country’s economy to be slowed due to the new US tariffs
Vienna on April 4/ WAM/ Economists at the Institute of Advanced Studies “IHS” in Austria expected that the new American customs tariff package will deepen the slowdown in the Austria economy this year, and reduce economic growth by 0.2% in 2025, 2026, according to preliminary estimates issued by the institute.
Claus Firesras, an expert in foreign trade, said that in light of the new customs tariffs, it is expected that the GDP of Austria is expected to decrease by 0.4%, this year 2025, according to estimates of the IHS Institute and the increase in the budget deficit, in light of the suffering of the Austria economy from recession for the third year in a row, in conjunction with the slowdown in the global economy, in addition to the new American customs graphics.
For its part, the Vienna Institute for International Economic Studies “WIIW” expected that the US tariffs will negatively affect the Austrian economy.
“He attributed the reason to expecting a decrease in the volume of Austria’s exports to the United States due to the imposition of new customs duties by 20%, pointing out that the United States is ranked second on the list of the most important export markets of Austria and the value of Austrian exports to the United States amounted to about 16.2 billion euros last year,” said Robert Stern, an economist at the World Bank.
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