Sarajevo (Fena) – American President Donald Trump has announced the potential implementation of tariffs on goods from the European Union, a move that could have detrimental effects on exporters in Bosnia and the surrounding region, warns economic expert Igor Gavran in an interview with Fena.
Gavran explains that if tariffs are enacted on EU products, Bosnian exporters could face significant challenges, as a large portion of their exports are directed toward that market. Furthermore, businesses in the region that engage with the EU could also be impacted, given that the regional economy heavily relies on European markets.
This situation could exacerbate the ongoing difficulties stemming from economic crises in Germany and other parts of the EU, where Bosnian exporters are already experiencing dwindling orders, reduced demand, and diminished exports.
In addition to a decline in exports, job security in Bosnia and Herzegovina may also be at risk. Despite this, Gavran suggests that there may be a small opportunity for some enterprising entrepreneurs to explore direct exports to the US market.
“There is a glimmer of hope that a few of our more innovative businesspeople might see this as a chance to export directly to the USA, especially as competition in that market could lessen,” Gavran noted. However, he cautioned that this hope is limited, as Bosnia and Herzegovina is vastly outmatched by the size of the American market.
Gavran sees this situation as a stark reminder of the risks associated with economic dependence on a single market and underscores the urgent need for Bosnian businesses to diversify their international connections.
“It is crucial for Bosnian entrepreneurs and the country as a whole to enhance economic collaboration with markets outside the EU, thereby mitigating future risks,” Gavran stated. (4.2.)
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