The trade war triggered by US President Donald Trump is seriously affecting several countries in Central Europe and the Balkans, very dependent on the German economy, which is facing difficulties, the European Bank for Reconstruction and Development (EBRD) warned Tuesday, AFP reported.

“Recent changes in American trade policy have bypassed very few countries”, and for those in which the EBRD intervenes “the main impact is felt indirectly through the German market”, Beata Javorcik, the EBRD’s chief economist, told AFP, according to Agerpres.

Although Germany experienced a slight growth rate at the beginning of 2025, after two years of recession, Europe’s largest economy is shaken by the trade war triggered by the US at a time when its industry is also in a precarious situation and its GDP is expected to stagnate this year.

Czech exports to Germany account for a quarter of the country’s GDP, while for North Macedonia they account for 20%, Javorcik points out. They are also prevalent for Slovakia and Hungary, and to a lesser extent for Poland and Slovenia.

The impact of the trade war between the US and China is also being felt, but the drastic reduction in customs duties announced by the two countries on Monday “demonstrates the US administration’s willingness to negotiate”, according to the Polish economist. “This gives us hope that an agreement will be reached between the EU and the US”, which “will have positive effects on our regions”, she added.

Founded in 1991 to help countries in the former Soviet bloc transition to a market economy, the EBRD has since expanded its scope of activity to include countries in the Middle East, Central Asia and North Africa.

The EBRD, which is holding its annual meeting in London until Thursday, revised slightly downwards on Tuesday its growth forecasts for the regions it covers, for which it now foresees GDP growth of 3% this year (- 0.2 percentage points).

Slovakia is particularly affected by the US tariffs, according to the EBRD, because the country exports cars. Beata Javorcik also noted that ‘5% of the Slovak population works’ in this sector.

AFP recalls that US President Donald Trump has launched a protectionist offensive on all fronts, which includes in particular additional 25% tariffs on cars.