In a recent statement, Serbian President Aleksandar Vučić addressed the newly imposed tariffs by U.S. President Donald Trump, which include a significant 37% duty on imports from Serbia.

Vučić criticized the methodology used by the U.S. to calculate trade balances, claiming that discrepancies exist between their figures and those reported by Eurostat.

He emphasized the particularly severe impact on Serbia's tire manufacturing sector, including companies like Jugoimport, Prvi Partizan, and Linglong.

Vučić expressed optimism for resolution, stating that discussions with American partners would take place soon, potentially within three months.

He highlighted that such tariffs could jeopardize key Serbian industries, primarily in the automotive and defense sectors, as the increased costs would render their products less competitive in the U.S. market.

The tariffs are part of a broader trade policy initiative announced by President Trump, which aims to enforce higher rates on imports from various countries, ostensibly as a measure to protect American jobs and industry.

Alongside Serbia, countries such as Bosnia and Herzegovina, North Macedonia, and EU member Croatia have also been affected, although the rates vary.

Vučić noted that Serbia's exports to the U.S. are composed mainly of information technology services and rubber products but specified the troubling prospects for the tire industry, which is based heavily in Inđija and Zrenjanin.

He asserted that while Serbia exports ammunition to the U.S., he believed the tariffs unjustly targeted the country’s industrial output.

In parallel, Vučić mentioned Serbia's preparations for Expo 2027, indicating a desire to invite Bulgaria as a participant in the event, highlighting Serbia's aim to enhance its international presence.

The unilateral tariffs imposed by Trump mark an escalation in an ongoing trade war that started shortly after he assumed office.

The American tariffs are said to reverse decades of trade liberalization, creating additional barriers within the global economy.

As reactions from other nations proliferate, economic analysts express concern about potential retaliatory measures that could lead to increased consumer prices and disrupted supply chains.

While the U.S. market is not the largest for Serbian exports, its significance is underscored by the recent trend of Serbian exports to the U.S. exceeding 600 million euros for the first time.

However, it comprises only about 2% of Serbia's total exports, reflecting a complicated relationship shaped by historical and political factors.

The imposition of these tariffs has drawn criticism globally, with various leaders and economic experts highlighting the adverse effects on the economies of developing countries, including Serbia.

The European Union and multiple countries including China have vowed to take countermeasures in response to these U.S. tariffs.

As the situation evolves, the economic repercussions are anticipated to reverberate through global supply chains, affecting not only Serbia's trade standing but also wider economic stability.

French officials have noted that the tariffs could threaten hundreds of thousands of jobs within their own economy, further amplifying fears associated with the escalating trade tensions.