Recently, the planet has witnessed a customs war between the United States and the European Union. This situation may have serious consequences for the Polish and European economies. According to Prime Minister Donald Tusk, fresh US tariffs can reduce Polish GDP by 0.4%, which translates into losses exceeding PLN 10 billion.
Hanna Gronkiewicz-Waltz, erstwhile president of the National Bank of Poland, believes that Americans, if they proceed to engage in this policy, will not emergence economically. The losses will be immense and the European Union must talk with 1 voice and respond consistently. In an interview with Wprost, Gronkiewicz-Waltz stated that Europe must wait out 4 years of Trump's presidency and find fresh solutions to avoid losses.
Challenges for Poland
Poland faces many challenges in relation to customs war. The acquisition of military equipment, IT technology and specialized components can be peculiarly difficult. Hanna Gronkiewicz-Waltz stressed that Poland must search fresh export markets and import modern technologies from developed Asian countries. This is the key to surviving without loss.
Numbers
According to the Central Statistical Office, Polish exports to the United States in 2020 amounted to over $34 billion. On the another hand, US imports amounted to over $21 billion. This means that Poland has a lot to lose in the event of a customs war.
Development potential
Despite hard times, Poland has many opportunities for development. Hanna Gronkiewicz-Waltz believes that Poland can direct exports to another regions of the globe, specified as Asia and Africa. It can besides import modern technologies from developed countries, which will increase the competitiveness of the Polish economy.
Conclusion
The customs war between the United States and the European Union is simply a challenge for the Polish economy. Hanna Gronkiewicz-Waltz believes that Poland must talk with 1 voice from the EU and consistently respond to American policy. This is the key to surviving without loss. Poland must besides look for fresh export markets and import modern technologies to increase its economy's competitiveness. Only in this way will we last without losses and make our economy.
Continued here:
Customs War: Will Poland last without Loss?
