Following talks with the US treasury secretary, Peter Szijjarto said that Scott Bessent affirmed that the US government and President Donald Trump will make every effort to bring the war in Ukraine to an end as soon as possible. The foreign minister called this the best news for Hungary, as the country has been facing significant challenges from the war for three years now.
It is also good news that the US treasury secretary spoke very highly and positively about Hungary's economic performance in two respects. He praised the Hungarian government's measures to bring down inflation, which were unfortunately necessary due to the difficulties Hungary also had to face because of the inflation driven by the sanctions. Secondly, Scott Bessent highly praised the numerous investments Hungary has attracted in recent years, Peter Szijjarto said.
The treasury secretary also pointed out the role American companies play in Hungary’s economy, noting that more than 100,000 Hungarians are employed by US companies,
he added.
The sides were in agreement on their opposition to the global minimum tax for big corporations, Peter Szijjarto said, noting that the Hungarian government has long blocked the introduction of the measure in spite of pressure by the Biden administration. He added that the termination of the double taxation avoidance treaty between the US and Hungary has been a consequence of that conflict.
The treasury secretary thanked Hungary for standing against the global minimum tax and confirmed that the current US administration also opposes it.
At the meeting, Peter Szijjarto also touched on the difficulties arising from the termination of the double taxation avoidance agreement, which has also posed challenges for US companies making investments in Hungary.
The treasury secretary acknowledged our request to restart negotiations as soon as possible. However, it should be noted that the new US administration has been in office for only a few weeks, and I see they have several pressing tasks in the areas of taxation and economic policy,
he underlined.
Of course, we also discussed the issue of sanctions. I particularly highlighted that the placing of Cabinet Minister Antal Rogan on a sanctions list was a petty political revenge by the outgoing US ambassador who left Hungary in frustration. In addition, we also touched on the Biden administration's sanctions measures, which are harmful to Hungary's energy security,
he said.
He further explained that the future of sanctions is closely tied to when and how the war in Ukraine can be resolved.