This is how Hungarian companies can prepare for the new global trade order

By: Trademagazin Date: 2025. 11. 14. 11:19

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More and more Hungarian exporters and importers are affected by the strengthening and accelerating protectionism in the global economy. Additional tariffs, trade policy measures (such as anti-dumping measures) and other steps (such as the introduction of a carbon tax) unilaterally introduced by individual countries are fundamentally changing the conditions of international trade. Therefore, in order to maintain their competitiveness, Hungarian companies must increase their adaptability and flexibility so that they can respond appropriately and quickly to global economic challenges – EY experts warn.

In recent years, the previous free trade approach has increasingly been replaced by the logic of asserting national economic interests. Key players in the global economy (such as the United States, China and the EU) are all introducing various protectionist measures to protect their own economies and other, even green, goals.

Although tariffs between the EU and the US have also increased, Hungarian exports to the US have not suffered a significant decline so far. However, the customs measures taking place in the world are still indirectly having an impact through the increase in raw material prices and logistics costs.

According to experts, the most important task for Hungarian companies to maintain (and possibly increase) their competitiveness is to map their supply chains and identify customs optimization opportunities.

“Due to the domino effect of the customs war, not only direct export markets but also supplier relationships are affected. Anyone who understands where their raw materials come from and under what customs conditions can react to changing rules in a timely manner, thereby reducing their customs costs”

– emphasized Dr. Áron Nagy, EY Tax Partner.

EU customs regulations provide companies with a number of tools to import certain products at reduced or even no duty. Many companies should review whether their products are eligible for any discounts, as this can result in significant annual cost savings, advises the EY partner.

Another key tool is the AEO (Authorised Economic Operator) license, which provides benefits to companies that are deemed reliable by the customs authority. AEO status provides faster customs clearance and easier access to certain customs licenses, thus allowing companies to react faster to the changing and currently unpredictable economic environment compared to their competitors without an AEO license. In addition, AEO status also provides numerous other benefits (including reduced or simplified customs and tax payment guarantees, 0–24-hour administration). Obtaining a permit is a complex process involving legal, HR and security areas, but it can provide a significant competitive advantage in the long term.

“The tariff war is not a closed story, but a fundamental great power tool in an increasingly volatile economic and geopolitical environment. Companies that optimize their processes now and take advantage of preferential tariff opportunities can not only reduce their costs, but also build more stable and resilient operations”

– pointed out Attila Fülöp, EY Tax Partner.

Hungarian companies should develop a long-term customs strategy: constantly monitor changes, regularly review supply chains, and submit applications for tariff benefits in a timely manner. Anyone who understands their own customs regulatory exposure not only reduces risks but can also gain an advantage in the uncertain global environment.