Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”

Trump’s proposed 15% ‘universal tariff’ could cost American households an extra $2,400 a year, raising consumer prices and shaking the economy as a key deadline nears.

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

U.S. President Donald Trump announced more trade deals this week as his deadline for Canada and the United States to negotiate a new economic and security partnership draws closer.

The European Commission said on Thursday a negotiated trade solution with the United States is within reach - while EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of U.