"As of Sunday, April 20, 2025, the most significant recent update regarding tariffs affecting Serbia involves the United States' imposition of new ""reciprocal tariffs."" Here's a breakdown of the situation: US Tariffs on Serbian Goods: The United States has imposed a 37% tariff on goods imported from Serbia.   This tariff went into effect on April 9, 2025, although there was an initial announcement on April 2nd. The U.S. government stated that these are ""reciprocal tariffs,"" meaning the rate was determined based on the tariffs Serbia allegedly imposes on American goods. The U.S. claims Serbia's tariffs on their goods reach as high as 74% when considering customs duties, VAT, and other costs. The 37% is reportedly half of this claimed rate. However, Serbian analysts and economists have disputed the 74% figure, stating that the actual customs duties on most industrial products from the U.S. are significantly lower, typically ranging between 5% and 10%, with some possibly reaching 20%. Serbia has officially requested an explanation from the U.S. regarding this calculation. Impact on Serbia: The 37% tariff is expected to negatively impact Serbian exports to the U.S., making them less competitive. Sectors likely to be most affected include the automotive industry (especially car tires) and the defense industry (mainly ammunition). Food products might also see some impact. While the U.S. is not Serbia's largest export market (ranking 19th and accounting for about 2% of total exports), the U.S. market has been growing in importance, with exports surpassing 600 million euros recently. Economists predict a potential decrease of €30-40 million in Serbian exports to the U.S. due to these tariffs. Indirect effects are also a concern, as Serbia is integrated into European production chains, meaning products using Serbian raw materials or components could also be affected by the broader U.S. tariffs on European goods. Serbia's Trade Agreements: It's important to note that Serbia has several free trade agreements that govern its trade relationships with other countries and blocs, which are separate from the recent U.S. tariffs:   European Union (EU): Serbia has a Stabilization and Association Agreement with the EU, which has largely abolished tariffs on most goods imported from the EU. There are some annual quotas for specific agricultural products.   Central European Free Trade Agreement (CEFTA): Serbia is a member of CEFTA, which includes Albania, Bosnia and Herzegovina, Kosovo, Moldova, Montenegro, and North Macedonia, facilitating duty-free trade among member countries.   Eurasian Economic Union (EAEU): Serbia has a free trade agreement with the EAEU and its member states (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia), with some exceptions and quotas for specific goods.   Turkey: A free trade agreement with Turkey allows for duty-free exports from Serbia, with gradual elimination of duties on Turkish industrial products (some agricultural products still have tariffs).   European Free Trade Association (EFTA): Industrial products exported from Serbia to EFTA members (Switzerland, Norway, Iceland, and Liechtenstein) are mostly duty-free, with some exceptions for fish and marine products.   United Kingdom: Serbia has a bilateral free trade agreement with the UK.   China: A free trade agreement was signed with China in 2023 and is expected to come into force in mid-2024.   Generalized System of Preferences (GSP): Serbia is a beneficiary of GSP schemes from the U.S. and Japan, providing duty-free access for certain eligible products.   In summary, the latest tariff update for Serbia is the imposition of a 37% tariff by the United States on Serbian goods, based on a reciprocal approach linked to disputed claims about Serbia's tariffs on U.S. products. This development is expected to negatively impact Serbian exports to the U.S., particularly in the automotive and defense sectors. Serbia has a network of other free trade agreements that govern its trade with numerous other partners"