Hungarian FM criticizes EU-US trade deal

BUDAPEST - Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto on Thursday criticized the trade agreement between the European Union (EU) and the United States, saying it favors Washington over the EU after the release of its details.

The EU and the United States had earlier on Thursday unveiled details of their July trade framework, setting tariff limits but leaving out key sectors such as wines and digital rules.

According to a joint statement, the United States will impose a maximum all-inclusive tariff of 15 percent on most EU exports, including cars, pharmaceuticals, semiconductors and lumber.

The EU pledged to remove tariffs on all US industrial goods and expand market access for American seafood and agricultural products.

Szijjarto wrote on Facebook that the deal is "good for the United States and bad for Europe," noting that the Hungarian government will continue consultations with strategic partner companies on industry and job protection measures.