Some employees in Serbia were caught off guard when a single signature in Washington, D.C., by President Donald Trump led to fears of job losses. Trump’s announcement of new tariffs on goods from over 180 countries, including Serbia, has raised concerns for many, particularly for companies heavily reliant on the U.S. market.
Sanja Stanimirović, director of “Testeral,” a company in Jagodina that manufactures aluminum windows, doors, and facades, expressed concern. With 120 employees, her company exports 70% of its products to the U.S. and the 37% tariff could wipe them out of the American market. The new tariffs were expected to take effect on April 9 but were delayed, excluding China.
The Serbian Chamber of Commerce quickly launched a service to help businesses understand the new tariffs. Bojan Stanić from the chamber pointed out that services, which Serbia exports to the U.S. three times more than goods, would not be subject to these tariffs.
Despite the tariff delay, many businesses are looking for alternatives. Stanimirović mentioned the possibility of relocating production to Montenegro due to its lower tariffs, but the process of shifting markets is complicated by differing certification requirements in each country.
Another company, “Tehnomarket” in Pančevo, led by Dragan Kršanin, also faces challenges. With more than 30% of their revenue from the U.S. market, Kršanin emphasized the significant investments made in certifications required by the U.S. to enter the market. He is concerned not only about his company’s future but also about his long-time employees.
Information technology services have seen growth in Serbia, and these services are not affected by the tariffs. IT companies providing services like programming and website maintenance to U.S. clients are not bound by customs duties, which presents a possible lifeline.
The American Chamber of Commerce in Serbia (AmCham) is closely monitoring the situation. They stated that it is too early to determine the full impact of these tariff decisions, as sector-specific analyses are still ongoing.
In 2024, Serbia’s trade with the U.S. amounted to over $1.4 billion, with a trade deficit of about $70 million. Serbia exports mostly tires, firearms, and automotive engines, while importing non-electric machinery, aircraft, and medical equipment from the U.S. The high tariff on aluminum and steel, previously 25%, remains a significant concern for Serbian manufacturers.
