Péter Szijjártó, Minister of Foreign Affairs and Trade, said negotiations are at an advanced stage on several major US investments planned in Hungary.

Minister Szijjártó said the next US investment is expected to be announced on Friday, and another three projects will follow.

Growing US FDI arriving in Hungary and the jobs created by these investments will offset the damage done by the European Commission in terms of the new trade tariffs, he said.

Communication between Prime Minister Viktor Orban and US President Donald Trump is continuous, he said and added that a personal meeting could be arranged at any time if it looked necessary.

"As for any secondary tariffs, we very much hope to avoid those," he added. "Hopefully, there will be a solution in Ukraine within the deadline projected by Donald Trump, and then the issue of secondary tariffs can be taken off the agenda," he said.

On the US-European trade deal signed the previous day, Minister Szijjártó noted that Hungary's government had already proposed at the time of President Trump's inauguration that the EC should immediately reduce tariffs on US imports.

"If the EC had moved then, then the tariff ordeal that the European Union has been forced to take part in recent months would not have taken place," Minister Szijjártó said.

"This tariff ordeal of EC President Ursula von der Leyen and the Commission has caused serious damage to the EU and the European economy. We could have avoided a worse deal with the United States than that of our competitors if the EC had taken the necessary decisions in time, when Trump took office," he said.