Lithuania plans to partially compensate businesses trading with the US for losses from tariffs imposed by the US on the EU, Report informs referring to the Ministry of Economy and Innovation.
The first aid package will amount to about 20 million euros, of which 12 million euros will be directed to compensate part of the salaries of additional export managers, as well as for companies' participation in exhibitions and business missions to find new export markets.
Another 1 million euros is planned to be allocated to business associations for organizing business foreign missions.
The ministry noted that the US accounts for 6.8% of Lithuania's total exports, and in 2024 the volume of Lithuanian exports to this country is preliminarily estimated at 1.6 billion euros.
Some 1,041 Lithuanian companies conduct trade with the US, and for about 100 of them, American exports account for more than 50% of turnover.
According to the Lithuanian Ministry of Economy's assessment, maintaining US tariffs at the declared level for 3-4 years could lead to a 0.65% decrease in the country's GDP.