Trump hits Serbia, 35% tariffs GO INTO EFFECT! Here is exactly what lies ahead

Photo: Tanjug/AP, Shutterstock

The new tariffs introduced by US President Donald Trump, entered into force today, and Serbia is among the countries affected by this measure.

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From now on, customs duties of as much as 35 percent are applied to goods imported from our country, which could have serious consequences for domestic exporters and the entire economy.

The tariffs apply to a wide range of products - from food and metals to industrial and chemical products - and are part of Trump's broader trade strategy to reduce the US trade deficit.

According to ABC News, the new round of tariffs affects more than 70 countries, which represents the most aggressive trade step made by the US administration to date.

What does this mean for Serbia?

The United States is not among Serbia's main trading partners, but the US market is significant for certain economic sectors. According to the latest data, Serbia exports products worth hundreds of millions of dollars per year, and the most represented are food and textile products, as well as IT and software services.

The introduction of 35% tariffs almost certainly means that Serbian products will become significantly more expensive and uncompetitive on the US market.

This could lead to:

- Withdrawal of Serbian companies from the US market due to the unprofitable exports,

- Loss of jobs in export-oriented companies,

- Decrease in income from exports,

- General slowdown in economic growth in sectors that are oriented towards the US market.

Political signal

The Trump administration maintains that the tariffs are not directed against specific countries, but against those markets they believe "do not respect principles of fair trade."

However, many analysts believe that these measures are more politically than economically driven.

For Serbia, that has been trying to increase exports and diversify markets in recent years, this move represents a serious challenge and additional uncertainty in globally unstable economic circumstances.

(Telegraf Biznis)