US tariffs to hit Czech economy mainly indirectly, analysts say

The new US tariffs on EU imports, set to take effect on August 1, will impact the Czech economy mainly indirectly through its key trade partners, analysts told Czech Prass AGency (ČTK). US President Donald Trump announced the 30 percent tariffs on Saturday. European Commission President Ursula von der Leyen said the EU is ready to continue negotiations until August 1. She also confirmed today that planned EU countermeasures, originally scheduled to start this Monday, will be postponed until early August. Czech exports to the US totalled CZK 133.5 billion last year, but the biggest effects are expected via Germany, which re-exports Czech goods to the US. Analysts predict a slowdown in Czech economic growth, weaker wage increases, and potentially a weaker Czech Crown.