Donald Trump's victory may be a political boon for Hungarian leader Viktor Orban but on the economy, Trump is bad news for Hungary - adding to inflationary risks due to a weak forint and lower output due to possible tariffs on Europe's auto sector.

Hungarian Prime Minister Viktor Orbán predicted Friday that President-elect Trump will halt aid to Ukraine in its fight against Russia once he enters the White House next year. Orbán, who this week hosted a two-day summit of the European Union’s 27 leaders in Budapest,

The re-election of Donald Trump to the White House is focusing minds in Europe, and with dozens of leaders meeting in Budapest, they have the perfect chance to talk it through.Trump's first term in office saw a dramatic souring of relations.