site.btaUS Tariffs to Hit Bulgarian Exports Directly by EUR 468 Mln, Indirectly by EUR 158 Mln - Economy Minister

The tariffs imposed by US President Donald Trump's administration on European goods will impact Bulgarian exports both directly and indirectly, Economy and Industry Minister Peter Dilov told the parliamentary Economic Policy and Innovation Committee. The Economy and Industry Ministry estimates the direct impact at EUR 468 million, with an additional EUR 158 million in indirect effects. The forecasts were prepared in collaboration with the Bulgarian Academy of Sciences.

Dilov was questioned by the parliamentary group of Continue the Change - Democratic Bulgaria (CC-DB) about protecting Bulgaria's economic competitiveness amid US tariffs. Deputy Minister Nevena Lazarova was also given a hearing.

The Minister outlined a range of planned measures to support businesses, including preparing analyses and guidance, maintaining active dialogue with trade associations, and promoting exports to alternative markets both within and outside Europe. Efforts will leverage existing or pending EU trade agreements with third countries, such as those with Indonesia and India, which are in advanced stages.

Other measures include strengthening the role of the Trade and Economic Relations Services in identifying new opportunities and developing financial instruments through the Bulgarian Export Insurance Agency.

Answering a follow-up question about bilateral intergovernmental commissions, Dilov described them as one of the best tools for promoting the export of Bulgarian goods and encouraging imports. He said a commission with China is scheduled for early next week and cited the size of the Chinese market as a key challenge for Bulgarian companies seeking entry.

On September 5, Dilov said at Parliament's Question Time that Bulgaria's exports to the US account for 3.3% of total exports, meaning that potential direct losses would be relatively low. Bulgaria, however, will also face indirect losses, as a large share of its exports to the EU and other markets consists of intermediate goods used by trading partners in their exports to the US.