''The negative impact on Bulgaria from a possible introduction by the U.S. of a 25% tariff on EU goods would amount to USD 678 million. This would mean a 0.49% annual decrease in the country’s total exports compared to the levels without tariff restrictions'', Bulgaria’s Deputy Minister of Economy and Industry Doncho Barbalov said in an interview with BTA. The government is prepared with measures to support Bulgarian exporters to offset a potential decline in exports, said Doncho Barbalov.
Only 35% of Bulgaria’s exports to the U.S. are for direct end consumption, which is a positive for the country, as the remaining portion of Bulgarian exports is used as components in other goods and products. This means that they are already part of the U.S. production chain and would be harder to substitute if restrictive tariffs are introduced, Doncho Barbalov commented.
Edited by Ivo IvanovPublished and translated by Kostadin Atanasov
Photo: mi.government.bg
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