A recent survey from the Bulgarian Industrial Capital Association reveals that many Bulgarian companies are bracing for a dip in production due to the new tariffs imposed by U.S. President Donald Trump. Although half of the 620 companies surveyed feel the tariffs won’t affect their business directly, a significant portion is concerned about the potential impact.
Around one-third of businesses expect negative consequences from the 20% tariffs, while 10% foresee problems due to the 25% tariffs on products like cars, steel, and aluminum. Bulgarian firms in sectors such as textiles, auto parts, and machinery are most likely to be impacted, especially those tied to supply chains in countries like the Netherlands, Germany, and Austria, which then export to the U.S.
Out of the companies surveyed, 120 directly export items like cosmetics and knitwear to the U.S., and 180 businesses anticipate a reduction in output due to these tariffs. Half expect a drop of up to 5%, but the other half are concerned their production could decrease by as much as 30%.
Up to 30% Decline in Bulgarian Exports Expected with Trump’s New Tariffs
