Hungarian Deputy Minister for Foreign Affairs and Trade Levente Magyar gave an interview to the American right-wing portal Breitbart following a series of business-related meetings in Florida. The interview was granted after Hungarian Prime Minister Viktor Orbán held discussions with President-elect Donald Trump and American billionaire Elon Musk at Mar-a-Lago early last week.
During the exclusive interview, the revitalization of Hungarian–American relations—both economically and diplomatically—was a key topic of discussion. Regarding this, Levente Magyar expressed confidence that Trump’s presidency would usher in a ‘new era’ of enhanced bilateral ties, increased trade, and expanded avenues for peaceful conflict resolution.
Magyar also noted that during the Biden administration, disagreements on key issues—such as the war in Ukraine—had strained the relationship over the past three years. He criticized the current administration’s actions, including reversing visa liberalization measures and unilaterally terminating the bilateral treaty on the avoidance of double taxation.
‘These measures have negatively impacted economic cooperation between our nations,’ Magyar noted, expressing confidence that Trump’s leadership would reverse these trends and usher in a new, fruitful era of collaboration. He also revealed that Hungary has maintained close contact with Trump’s team in recent years, anticipating that his victory would lead to a shift in relations ‘in a way that would be beneficial to Hungary.’
Magyar highlighted Hungary’s economic vulnerability due to its openness to global trade. ‘Hungary’s export-to-GDP ratio is nearly 90 per cent, making us one of Europe’s top exporters relative to our size,’ he explained. ‘Any trade barriers or tariffs threaten our fundamental economic interests.’
‘Any trade barriers or tariffs threaten our fundamental economic interests’
The Hungarian government remains optimistic about Trump’s upcoming presidency in this regard also. ‘We hope the incoming US administration prioritizes reducing barriers and fostering trade expansion between Europe and America,’ Magyar stated, adding that Hungary, as part of the EU, stands to benefit significantly.
The Hungarian deputy FM also highlighted that major credit rating agencies, including Fitch Ratings, Moody’s, and Standard & Poor’s, have recently affirmed Hungary’s investment-grade status, reflecting confidence in the country’s economic stability.
Evaluating his series of talks in Florida, Levente Magyar noted that US companies are prepared to invest in Hungary on a scale comparable to the significant Asian investments the country has recently attracted. ‘There are investors lining up who are ready to bring very substantial capital to Hungary, once we have a US administration that is focused on improving relations rather than undermining them,’ the deputy minister emphasized.
In his interview with Breitbart, Magyar also addressed the conflicts in Ukraine and the Middle East, highlighting the potential peacebuilding impact of Donald Trump’s election. ‘We are confident in the new administration’s leadership and look forward to working together to address these challenges and build the world together with the United States,’ he stated. Magyar expressed optimism that the two nations would collaborate in ‘building a global system that will be more conducive to our economic, business, and trade interests.’
‘But, first and foremost,’ he added, ‘we need to build an economic system based on the peaceful resolution of conflicts and the ability to bring ongoing conflicts to an end, whether in Eastern Europe, the Middle East, or elsewhere in the world.’
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