Minister: New US import tariffs could impact Estonian economy
When it comes to Estonia, the direct impact of the US' import tariffs currently in effect is not very large, but with the addition of new tariffs, the impact may now directly impact the Estonian economy, Minister of Entrepreneurship and Information Technology Rene Tammist (SDE) said on Friday.
According to Tammist, this is why he considers the continuation of trade negotiations between the EU and the US important.
The minister said that it is important that the two biggest economic areas in the world not go down the path of antagonism and instead continue with open trade and the search for compromise.
EU trade ministers are to meet in Brussels on Friday to discuss, among other primary topics, trade relations between the US and the EU, the ministry said.
As the ratio of Estonian exports to GDP is 80%, one of the highest in the EU, the indirect impacts of a long-standing trade war will be bigger and more negative for Estonia than for other countries less dependent on exports.
The US is Estonia's 13th most important trade partner, and third most important outside of the EU following Russia and Norway.
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Editor: Aili Vahtla
