Finance Minister Boštjančič calls for a unified and thoughtful EU response to changes in tariffs in the USA

Ljubljana – The Slovenian Finance Minister Klemen Boštjančič expressed hope in response to the latest decision of the American President Donald Trump regarding the temporary freeze on tariff increases, that Europe will show unity and will not “fall for every action of the USA.” “For a few days now, I feel like we are living in a reality show, which unfortunately is quite serious,” he said on Wednesday for TV Slovenia.

“I do not advocate for immediate reciprocal tariffs, but it is important that Europe shows that it will not allow the USA to treat it as it pleases,” he said the day before on the sidelines of the Slovenian capital market day in Ljubljana. On Wednesday, EU member states, including Slovenia, supported the introduction of countermeasures in response to tariffs on steel and aluminum imports to the USA. The EU will gradually impose additional tariffs of up to 25% on imports of American goods worth around 20 billion euros.

“I think that just a few months ago, no one in Europe expected anything like this to happen. That a country that has always been considered the largest European ally is now behaving like a spoiled child,” Boštjančič said after Trump’s announcement of the temporary freeze on tariff increases for 60 countries and the EU, as well as the implementation of 10% additional tariffs for all except China on Wednesday.

The Slovenian Finance Minister described this type of US policy as completely wrong and contrary to economic theory and today’s trade flows. The world is becoming increasingly globalized, and the measures we are witnessing from the USA now were characteristic of the 18th or 19th century, not the 21st century, he said.

“It has always been the case that the USA was the most important part of promoting free trade and openness globally, which has now turned around, and I think Europe should take advantage of this and become the most important part of the world that promotes the free flow of goods,” Boštjančič said.

Regarding the American announcements of negotiations, he stated that he and his European colleagues constantly emphasize the need to negotiate and not make hasty decisions. The minister does not doubt that the EU will negotiate, and that it will also unify sufficiently, although there are significant differences in interests within the community when it comes to trade exchange with the USA, Boštjančič said.

Slovenia has a trade surplus with the USA, except for the year 2024, which has reached about 40 to 50 percent of the total trade volume in recent years. This has exceeded one billion euros since 2022, and in 2024 it broke the two billion euro mark due to a sharp increase in imports in the category of organic chemical products. Most of Slovenia’s exports to the USA consist of pharmaceutical products, for which additional American tariffs do not currently apply. (April 8 and 9)