The 15% customs duties on European exports to the USA have a limited direct impact on Romania (economists)
Bucharest – Romania’s exports to the USA account for less than 3% of total exports, with the indirect transmission channel being more important in this case, says Iulian Lolea, a macroeconomist at the Concordia Employers’ Confederation.
“Romania exports massively to Germany, France, etc. When these countries are affected by American tariffs and reduce their economic activity, they buy less from Romania,” explained Iulian Lolea for AGERPRES.
He emphasized that there are sectors in Romania that will suffer directly, especially those producing electrical components and equipment, engines and auto parts, steel and iron articles, the furniture industry, and wood products, as well as rubber products and derivatives. All of these account for over 60% of Romania’s exports to the USA, the economist specified.
According to him, the new agreement “is better than the figures circulated in the previous presidential decrees of President Trump.” “This means that the European sectors connected to the American market, including the auto industry to which Romania is strongly linked as a supplier, will suffer less,” added Iulian Lolea.
However, European goods are becoming increasingly uncompetitive for the American market, with currently two important factors that have increased their relative price: tariffs (15% or 50%) and the appreciation of the euro against the dollar (over 10% since the beginning of the year), the economist believes.
“Therefore, economic growth in the euro area will be affected, with estimates from international institutions showing a possible reduction in the growth rate by 0.3 – 0.4%, which would mean a reduction in Romania’s economic growth by 0.15% – 0.2%. Even if the level of tariffs is lower, they will generate distortions in trade flows and may cause problems for many European exporters,” explained the representative of Concordia.
The USA and the EU agreed on a framework trade agreement following the meeting held on Sunday in Scotland between the President of the European Commission, Ursula von der Leyen, and the American President Donald Trump. The agreed agreement provides for tariffs of 15% to be applied in the USA on imports from the EU, as well as an increase by the community bloc of purchases of energy and military equipment from the USA, as well as European investments in the USA. In the absence of an agreement, the USA would have applied tariffs of 30% on imports from the EU starting August 1. (28.7.2025)
