The recent implementation of higher U.S. tariffs, affecting numerous countries, including Serbia, has raised concerns among domestic businesses. Although the tariffs were delayed, Serbian companies are bracing for their negative impact. Experts highlight that Serbia faces one of the highest tariff rates in Europe, set at 37%, which threatens the competitiveness of Serbian products, particularly in sectors such as automotive, tire production, food, and specialty industries.
Đorđe Petrović, owner and director of Companies Connected Consulting, emphasized that Serbian exports, which had previously been competitive in terms of price and quality, now face significant challenges due to the new tariffs. Petrović noted that market diversification has helped some companies absorb the impact, but the long-term effects could lead to reduced exports, lower income, and potential job cuts. He stressed the importance of adapting quickly by reconsidering market strategies and focusing on products with higher added value.
The Serbian Chamber of Commerce (PKS) responded by launching a specialized service to provide businesses with timely information on the new tariffs. PKS is also advocating for immediate negotiations with the U.S. administration to mitigate the impact on Serbian exporters.
In addition to larger companies, small businesses will feel the indirect effects of the tariffs. Marijana Jović, marketing director at Brigada HUB, shared that her agency’s clients are already adjusting marketing strategies due to market uncertainty. Companies are increasingly adopting phased projects and focusing on existing client relationships rather than large investments in new customers. This shift is prompting businesses to rethink their priorities and explore more sustainable, self-sufficient strategies for growth.
Nebojša Atanacković, honorary president of the Union of Serbian Employers, expressed concern about the high tariffs imposed on Serbia and the potential consequences for European investments in the country. He suggested that while the direct impact on Serbian exports may be limited, the broader effects on European supply chains could pose a more significant risk to Serbia’s economy.
In conclusion, while Serbian companies face challenges due to the new U.S. tariffs, they are also being forced to adapt to a changing global market. Strategic market diversification, business professionalization, and a focus on innovation will be crucial for weathering this economic storm.
