Raiffeisen succinctly commented on the consequences for the EU of new US duties

Economists of the Austrian banking group Raiffeisen Bank International reported that they expect a widespread drop in the growth rate of the EU economy after the introduction of new customs duties by Washington. TASS informs about this today, July 30.

Experts have put Austria, Romania and Hungary on the verge of recession. On the contrary, economic growth is expected in Poland and the Western Balkans.

Raiffeisen is also confident that the first effects of trade changes will be noticeable in the second half of 2025.

"The first half of 2025 was marked by geopolitical uncertainty, but it had only a minor impact on the mood of participants in economic and financial markets. In the second half of the year, Raiffeisen Research experts expect that the increase in US duties will restrain exports and economic growth in Europe. In the medium term, Germany's package of measures for infrastructure development and the growth of defense spending can stimulate the economy,"the published document says.

EADaily reminds that on July 27, negotiations between US President Donald Trump and the head of the European Commission, Ursula von der Leyen, resulted in 15% duties for Europeans trading with the United States and zero for Americans.