Enlarged Hungarian Business Chambers Forum addresses US tariff measures

The Business Chambers Forum, a body established to consult on economic policy under the coordination of the National Economy Ministry, convened on Monday for the second time this year.

The National Economy Ministry said in a statement that the Business Chambers Forum comprises representatives from the Hungarian Chamber of Commerce and Industry (MKIK), the National Association of Entrepreneurs and Employers (VOSZ), the Confederation of Hungarian Employers and Industrialists (MGYOSZ), the National Federation of Hungarian Building Contractors (EVOSZ), AmCham Hungary, and the German-Hungarian Chamber of Industry and Commerce (DUIKH).

The members were joined for Monday’s meeting by representatives of Audi, Mercedes, BMW, Bosch, DENSO and GE. The ministry said the meeting focused on the new tariff measures announced by the United States of America.

National Economy Minister Márton Nagy said the expanded format for the meeting was adopted because of the US tariff measures and added that this kind of joint thinking and dialogue contributes to mapping the economic impacts. For that purpose, the consultations will remain continuous.

MKIK held a foreign trade conference

On Monday, the Hungarian Chamber of Commerce and Industry (MKIK) held a foreign trade conference titled “Foreign Trade in Focus” as its annual starting event for the sector.

Levente Magyar, a state secretary at the Ministry of Foreign Affairs and Trade, said that in the current uncertain global political situation, the task of Hungarian foreign policy is to ensure the country’s peace and the representation of Hungarian economic interests.

Magyar said Hungary’s decisions will continue to be driven by standing up for Hungarian interests and not by adapting to expectations, and noted that extreme volatility has set in, and it is very difficult to plan in the uncertain geopolitical situation.