Ákos Péter Bod, professor and former governor of the Magyar Nemzeti Bank, spoke on a Portfolio.hu podcast, starting out by addressing the much-watched situation regarding tariffs and how these may change under Trump.

“What we know is that the U.S. tariff level, which is quite low, still lower than most of its competitors, has started to rise, and the first Trump administration strongly advocated this, but the next one hasn’t stopped. Now there is a new development, with the new administration very strongly basing its economic policy on higher tariffs.”

Bod noted that this adds to already increas