A Biden admin took a series of decisions that hit Hungary in both its economy and its politics. Experts note that new limits on Russian oil sent fuel prices up fast. That rise put strain on Hungary’s economy and on everyday people.
The canceling of the tax treaty and stricter travel rules for Hungarian citizens also hurt ties with the U.S. The Hungarian government now trusts that under Trump, relations between the two nations will improve. Past sanctions and rules made life difficult.
Experts say that soon the U.S.-Hungary ties might rest on new ground. A fresh start could boost the economy. Under Trump, strong moves can be made to raise competitiveness. Gas price rises, caused by limits on supplies to Ukraine, put more stress on the economy. This burden affected the German industry, which works closely with Hungary.
Minister Nagy Márton stressed that peace can bring safety to families and firms. The government aims to restore the tax treaty, ease visa rules, and restart direct flights between Budapest and key U.S. cities.
It is important for U.S. investors to show interest in Hungary again. The local business scene can bring good chances. Before the war, foreign companies kept improving the country. But during the Biden period, this trend slowed down due to economic doubt.
Prime Minister Orbán Viktor showed his hope when he said that under Trump, a new and promising time could begin in U.S.-Hungary ties, a change that families may feel in their budgets. After the war, a new phase of rebuilding began, with hopes of U.S. firms appearing in Hungary and new jobs coming up.
In the months ahead, strong steps must be taken to end double taxation and improve the investment scene. If Hungary and the U.S. can build steady ties after the hard period under Biden, the country’s economic growth will see a boost.
