The US administration under President Donald Trump has announced new customs tariffs on Serbian goods, set to take effect on August 7. The officially adopted tariff rate is 35 percent, slightly lower than the initially announced 37.7 percent. This tariff primarily impacts major Serbian exporters in industries such as auto parts, tires, and weapons.
Bojan Stanić, assistant director at the Serbian Chamber of Commerce, noted that the exact product list subject to tariffs and possible future increases remain unclear. Serbia’s government continues negotiations with the US to seek a trade agreement that could lower these tariffs.
Serbia ranks among the top 10 percent of countries facing the highest US customs duties, second only to Switzerland in Europe, with tariffs that further reduce the competitiveness of Serbian goods in the US market.
Approximately 700 Serbian companies export to the US, but trade volume with America remains modest compared to Serbia’s larger trade relationships with the EU, regional neighbors, and CEFTA countries. In 2024, Serbia’s trade with the US totaled around €1.4 billion, with exports and imports nearly balanced at roughly €679 million and €684 million respectively, resulting in a slight trade deficit.
Initially, the tariffs targeted countries with trade surpluses with the US, and Serbia was listed among them. However, updated statistics revealed a small deficit, which may explain why the tariff rate was reduced by 2.5 percent.
Economics professor Ljubodrag Savić criticized the inconsistent US tariff policies, describing them as arbitrary and unpredictable tools of economic coercion. He warned that retaliatory measures, especially by large economies like China, could lead to higher costs for American consumers and workers.
For Serbia, Savić called the 2.5 percent tariff reduction “ridiculous,” noting that US tariffs on Serbian exports were previously very low. He suggested the real target of these punitive tariffs may be Chinese-owned companies operating in Serbia, particularly exporters of copper and automobile tires.
Despite the challenges, Savić expressed confidence that Serbia can withstand the impact, referencing harsher sanctions faced during the 1990s. He concluded that while selective sanctions are dangerous, broad application of tariffs worldwide would raise costs for all parties involved.
