Hungary-U.S. Business Discussions: Crafting Future Alliances in Space and Defense

In a bid to counter potential U.S. tariffs, Hungary is engaging in talks with the United States to explore cooperative projects in the space and military sectors, according to Hungarian foreign ministry state secretary Levente Magyar. The discussions are part of a broader strategy to bolster economic ties and enhance national capabilities.

Although swift consensus is unlikely, Hungary's foreign ministry remains optimistic about reaching agreements encompassing energy, space, and military projects. Commenting at an event in London, Magyar emphasized the vast opportunities for collaboration between the two nations, despite a packed agenda for the U.S. administration.

Hungarian Prime Minister Viktor Orban has expressed hopes for a business deal within six months to mitigate tariff impacts. This comes amidst concerns about Hungary's car industry, economic recovery, and inflation control ahead of the 2026 elections. Meanwhile, U.S. President Trump has given EU members, including Hungary, a reprieve by delaying potential 50% tariffs, opening a window for further negotiations.

(With inputs from agencies.)