Ljubljana – The Slovenian Ministry of Economy highlights the significance of predictability and stability following the customs agreement established between European Commission President Ursula von der Leyen and U.S. President Donald Trump. The ministry states that this agreement supports “long-term planning and a competitive business environment,” particularly for key sectors in Slovenia, such as automotive and pharmaceuticals. They are currently evaluating the agreement.
The Chamber of Commerce and Industry of Slovenia (GZS) is also anticipating the official final version of the agreement, which will detail the customs duty rates for specific goods and any possible quotas. Chief economist of GZS analytical service, Bojan Ivanc, raised concerns about how the European Commission plans to incentivize EU countries to invest in the U.S. or acquire American energy resources.
“Numerous details remain undefined. Nonetheless, we believe the timeline for implementing higher customs rates – specifically the anticipated 30 percent that was set to start on August 1 – has likely been postponed or may not occur at all,” he noted.
Among the favorable aspects of the agreement, he mentioned the reduction of tariffs on car imports to the U.S., while also highlighting the still elevated tariffs on steel and aluminum.
In the past five months, Slovenian exports to the U.S. have dropped by seven percent, attributed primarily to decreased exports of machinery and steel and aluminum, according to Ivanc. (July 28)
Leave a Reply