The ongoing tariff battles between China and the United States are reverberating across global markets, and their impact is now being felt by Serbian companies, particularly in industries such as aluminum and steel. The imposition of tariffs on these goods, which applies worldwide, is already causing economic tremors in many countries, including Serbia.
At Testeral, a company specializing in aluminum and PVC products for the construction sector, the consequences are already apparent. Sanja Stanimirović from Testeral expressed concern, noting that the 25% tariffs on steel and aluminum, in addition to another 10% tax, pose a significant risk to their operations. “The shock was felt throughout the company,” Stanimirović explained.
Though the company is still working to assess the full impact, one thing is clear: price increases are not an option due to long-term contracts they have in place. Meanwhile, Serbia’s overall competitiveness in the American market is under threat, as companies may lose business to countries with lower tariffs.
On Wednesday, President Trump postponed the application of reciprocal tariffs on global goods, including those affecting Serbia, reducing the tariff rate from 37% to 10% for the next 90 days. While this move provides temporary relief, the future remains uncertain.
The Serbian Chamber of Commerce has warned that the primary danger posed by these tariffs is the potential loss of market share to other countries that offer lower customs duties. Even with the temporary reprieve, the long-term effects of these tariffs remain a pressing concern for Serbian businesses, with far-reaching consequences likely to unfold.
