Romanian authorities are scrambling to cushion the blow to local businesses after the United States, under President Donald Trump, introduced sweeping new tariffs that have shaken global markets and strained transatlantic relations.
In an unexpected announcement earlier this week, President Trump imposed a 20% tariff on imports from the European Union and a 3×4% tariff on Chinese goods, citing the need to protect American industries as part of what he dubbed “Liberation Day.” The move has sparked concern across the EU, prompting economic reassessments and political backlash.
S&P Global, leading financial analytics and credit rating agency, responded swiftly, announcing it would reassess all of its macroeconomic forecasts in light of the tariffs. The ratings agency revised its projection for U.S. inflation upward, now expecting it to reach nearly 4% by the end of the year, and warned that U.S. GDP growth could be slashed by up to 0.4 percentage points. The probability of a U.S. recession in the near term has risen from 25% to 35%, according to S&P analysts.
European Commission President Ursula von der Leyen condemned the move, warning of retaliatory measures and highlighting the risk of global economic fragmentation. The Commission has already begun consultations on potential counter-tariffs aimed at protecting European industries.
In Romania, the economic shockwaves are already being felt. Prime Minister Marcel Ciolacu announced that his government will roll out state aid schemes for Romanian companies affected by the U.S. tariffs. Although specific financial details were not disclosed, Ciolacu emphasised the government’s commitment to ensuring that local exporters can remain competitive in an increasingly hostile international trade environment.
“These tariffs represent a direct hit to Romanian businesses engaged in transatlantic trade,” said Ciolacu. “We will support them through targeted aid programs and ensure our economy remains stable.”
The tariffs are the culmination of a series of protectionist moves from the Trump administration, which has repeatedly used trade policy as a tool to address what it views as structural imbalances and unfair practices. The White House maintains that these measures are necessary to revitalise U.S. industry and reduce dependency on foreign goods.
Adding to the diplomatic strain is the delay of Romania’s much-anticipated entry into the U.S. Visa Waiver Program. Originally expected to launch by the end of March, the program’s rollout has been postponed due to a pending security review by the U.S. Department of Homeland Security. This delay leaves Romanian citizens still required to obtain a visa for short-term travel to the U.S., despite repeated assurances and years of bilateral negotiations.
The double blow — economic pressure from tariffs and the stalled visa liberalisation — has stirred frustration in Bucharest, where officials had hoped for a new chapter in U.S.-Romania relations.
As the dust settles, Romanian businesses and policymakers are bracing for further fallout while looking to the EU for coordinated responses. In the meantime, analysts warn that prolonged trade tensions could have a ripple effect on investment, consumer prices, and regional economic stability.
