Serbia will see the removal of the 35% U.S. tariffs on its exports, Serbian President Aleksandar Vucic announced on Friday. Speaking live on state-run RTS TV, Vucic said the duties will be reduced to zero as of Friday evening.
Vucic added that while the rate will initially be zero, it could ultimately be adjusted to fall in a range of 10% to 12%.
The duties had been introduced last year and, according to Vucic, disproportionately affected small and medium-sized enterprises in Serbia's automotive, agriculture, machinery, metals, manufacturing, and defense sectors. Those industries were identified by the president as among the primary targets of the tariff measures.
Trade figures for 2025, cited from U.S. Census Bureau data, indicate the United States ran a $730.5 million deficit with Serbia. That gap reflects U.S. imports from Serbia of $944.2 million and U.S. exports to Serbia of $213.7 million.
Vucic framed the tariff removal as a step to stimulate further investment in Serbia and to support the country's investment and credit ratings. He presented the policy shift as beneficial for attracting capital, though he did not provide additional details on timelines or specific investment commitments tied to the announcement.
The president's remarks come against the backdrop of his earlier statement that he intends to call snap general elections in the coming months. Vucic's announcement did not link the timing of the tariff change to the election timetable, nor did it specify any mechanisms for how the proposed 10% to 12% eventual rate would be determined or implemented.
The immediate reduction to zero will remove an added cost layer for Serbian exporters to the U.S. market. At the same time, the president's comment that rates may later be set between 10% and 12% leaves an element of uncertainty about the medium-term trade regime. Detailed implementation plans and the response from affected Serbian firms or U.S. trade authorities were not included in Vucic's broadcast.
This development will be watched by firms and investors with exposure to the listed sectors, as well as by analysts monitoring Serbia's external position and credit outlook. The announcement itself contains clear policy shifts and stated objectives, while certain operational details and future adjustments remain undefined in the president's public remarks.