Trump Tariffs Hit Globalization Winners in EU’s East, EBRD Says

The outlook for eastern European economies, which for decades have reaped the benefits of globalization, is deteriorating as the US hikes tariffs, according to Beata Javorcik, chief economist at the European Bank for Reconstruction and Development.

The region, now mostly in the European Union and the NATO military alliance, has benefited greatly by embracing free trade following the collapse of communism, especially in terms of technology transfers that reshaped its economies.