US Lifts 35% Tariffs on Serbia - Positive Signal for Strengthening Economic Cooperation

The US is lifting the 35% tariffs on Serbia introduced a year ago, Serbian President Aleksandar Vucic said, emphasizing that "tariffs could later be between 10 and 12%."

He said that even before the 35% tariffs were introduced, Serbia had faced tariffs on exports of goods to the US, particularly steel, aluminum, passenger vehicles and copper.

- Then special tariffs of 35% were introduced in response to countries that had a foreign trade surplus with the US - Vucic said, adding that the tariffs had "caused considerable problems."

First Deputy Prime Minister and Minister of Finance Sinisa Mali said that the US administration's decision to reduce tariff rates for Serbia to zero percent as of Friday night represents a positive signal for further improvement of economic relations between Serbia and the US.

- Great news for the Republic of Serbia is coming from the US today. Namely, as President Aleksandar Vucic announced, US tariff rates for Serbia will be zero percent as of tonight our time and will remain so while our talks continue. Therefore, at a time when the US administration is introducing a new round of tariffs on goods from dozens of countries around the world, it is simultaneously lifting tariffs on Serbia, Mali wrote on his Instagram account.

Mali said that this was very good news for the Serbian economy and further confirmation that responsible economic policy and continuous dialogue with international partners produce concrete results.

The Donald Trump administration introduced new tariffs on Friday ranging from 10 to 12.5% on goods from 60 countries, including EU member states, over allegations of insufficient controls on forced labor.

European Union (EU) High Representative for Foreign Affairs and Security Policy Kaja Kallas questioned Washington's justification for imposing new tariffs on European goods, arguing that the allegations of shortcomings in the EU's controls over forced labor were unfounded.

She announced that the EU would seek clarification from Washington, recalling that a transatlantic trade agreement had been reached last year, making the new tariffs a shock.

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

Aleksandar Vucic

Sinisa Mali

Kaja Kallas

Donald Trump

tariff