Romanian PM Marcel Ciolacu promised on Thursday to protect Romanian companies through state aid schemes against the commercial tariffs announced by Donald Trump.
Authorities worldwide have promised countermeasures after the US president announced on Wednesday that he is imposing a basic 10% tax on goods from all countries, plus „reciprocal” tariffs varying from one country to another. Tariffs of 20% will be imposed on products imported from the EU, 34% from China, 31% from Switzerland, 26% from India, 10% from the UK, and 10% from Brazil. The new tariffs will come into effect on April 5 and 9.
Ciolacu promises aid against tariffs
"We will protect Romanian companies, with all available resources, from the effects of the new customs tariff trade war between America and Europe. We are preparing support measures for all industries affected through state aid schemes that are as efficient and easy to implement as possible, so that they can have effects in the shortest time," PM Ciolacu stated at the beginning of the government meeting.
He also conveyed a message "for those who daily accuse how poorly things are going in the economy."
"There are recent data showing the confidence of Romanian and foreign investors in our economic potential.
The largest entrepreneurial industrial company, Chimcomplex, is investing 100 million euros in a new factory in Onești.
The Finns from Nokian have started tire production in Oradea. They will exceed a billion euros in turnover even this year.
Mobexpert, Dedeman, and all major hypermarket chains are expanding their logistics network in the country with investments of hundreds of millions of euros.
An American investment fund has acquired the Regina Maria healthcare network for over 1.3 billion euros Regina Maria healthcare network will be acquired by the largest private healthcare provider in Finland.
In conclusion, there is confidence in Romania, which is why serious investors are putting so much money on the line. That is the true picture of our economy," Ciolacu emphasized.