Hungary is preparing a major economic agreement with the United States, Prime Minister Viktor Orban announced on February 7. The EU nation has been actively pursuing stronger ties with Washington just as US President Donald Trump, now back in office, signals his intent to impose tariffs on European goods. This development underscores Orban’s strategy of balancing relations between major global players, including China, the US, and Russia, while challenging the European Union’s economic and political orthodoxy.

Speaking in an interview with state-owned Kossuth Radio, Orban emphasized the need to bolster US investments in Hungary. He pointed out that during the administration of former US President Joe Biden, Chinese investments in Hungary had surpassed American investments, a situation he believes requires correction.

China emerged as Hungary’s top foreign investor in 2024, contributing nearly half of the nation’s total investment value, according to Hungarian Foreign Minister Peter Szijjarto. Bilateral trade between China and Hungary reached $14.5 billion in 2023, surpassing the $13.9 billion trade turnover between Hungary and the United States. While US investment figures have not been disclosed, Orban’s push for a comprehensive economic agreement with Washington signals his desire to rebalance Hungary’s foreign economic relations.

“We are preparing to make an economic deal of significant size and seriousness with America. I agreed with President Trump even before he was elected that there would be such a deal,” Orban stated, as quoted by local media.

Hungarian MP and........

© Blitz