Bulgaria Assesses Minimal Direct Impact from U.S. Tariffs, Warns of Broader EU Risks

Minister of Economy and Industry Petar Dilov stated during parliamentary oversight that the recently imposed U.S. export tariffs are unlikely to have a substantial direct effect on Bulgaria’s economy. This assessment is based on data from the Ministry showing that bilateral trade with the United States in 2024 constitutes a minor portion of Bulgaria’s overall trade—just 1.7%. Specifically, exports to the U.S. make up 2.6% of total exports, while imports from the U.S. represent only 0.8% of all imports.

However, Dilov warned of potential indirect consequences due to the tariffs affecting Bulgaria’s primary trading partners within the EU, which account for 64% of Bulgarian exports and 57.3% of imports. He noted that the impact could extend to bilateral trade with those countries, potentially influencing Bulgaria’s economy indirectly.

Dilov also highlighted that such developments may disrupt supply chains, lead to shortages in certain products, and result in decreased market share. At the same time, he acknowledged that the situation might encourage new production efforts and foster fresh business collaborations.

The Ministry of Economy and Industry remains engaged with the business community to monitor the effects of U.S. restrictions and to formulate policies aimed at supporting the national economy and limiting negative outcomes stemming from the U.S. trade stance toward the EU.

At the Foreign Affairs Council (Trade) on April 7, 2025, Bulgaria reiterated the strategic importance of maintaining close transatlantic ties. Minister Dilov underlined that the U.S. is not only the EU’s key trade partner but also a crucial strategic ally. He stressed the importance of pursuing constructive dialogue and maintaining openness to negotiations to avoid further escalation and to secure a mutually advantageous resolution.