Following the Trump administration’s announcement to increase customs duties, the most affected industries in Romania appear to be steel and metal product producers. Last year, Romania exported products worth over 2.283 billion euros to the United States of America and imported 1.315 billion euros, resulting in a trade surplus with the US of 968 million euros, according to data from the National Institute of Statistics. Romania’s total exports in 2024 were about 92.7 billion euros, so the impact would have been felt by approximately 2.5% of total Romanian exports, directly. However, there are also indirect effects, for subassemblies and parts manufactured in Romania, sent back to parent companies in Europe and dedicated to export to the US – a kind of lohn whose value is unknown, not being statistically reported.
Some players have anticipated such problems and created dedicated regional divisions.
“It does not affect us, because we are divided into three global regions: America, EMEA and Asia-Pacific, and in each region we have factories that produce over 90% for the respective region. All the factories we have in Romania, Austria, France, the UK and so on produce for Europe. We do not export to the US. We export somewhere under 5% to other regions, so the impact will be minimal”, the representative of an American manufacturer of components and units dedicated to the energy market told Energynomics.
The US president announced customs duties of 20% for products imported from the European Union, 34% for those from China, 31% for Switzerland, 26% for India, 10% for the UK and 10% for Brazil. The effects on the European Union will be significant.
US has a trade deficit with EU…
The US deficit with the European Union increased by $26.9 billion to $235.6 billion in 2024. Exports increased by $2.6 billion to $370.2 billion and imports increased by $29.4 billion to $605.8 billion, according to US data reviewed by Energynomics.
The US trade deficit with the European Union decreased by $5.8 billion to $38.5 billion in the fourth quarter of 2024. Exports decreased by $0.9 billion to $164.8 billion and imports decreased by $6.7 billion to $203.3 billion.
The deficit with the European Union increased by $5.4 billion to $30.9 billion in February. Exports fell by $2.3 billion to $29.9 billion, while imports increased by $3.2 billion to $60.8 billion.
As of the end of 2023, over the previous 5 years, Romania’s exports to the United States grew at an annualized rate of 7.82%, from $2.64 billion in 2018 to $3.84 billion in 2023, and United States exports to Romania grew at an annualized rate of 4.95%, from $1.08 billion in 2018 to $1.37 billion in 2023, according to U.S. data reviewed by Energynomics.
…and a trade deficit with Romania
Last year, Romania exported to the United States products worth over 2.283 billion euros and imported 1.315 billion euros, resulting in a trade surplus with the US of 968 million euros, according to data from the National Institute of Statistics, at the request of Agerpres.
High values of Romanian exports to the US were recorded in the case of the following products: semi-finished products made of iron or non-alloy steel – 217.865 million euros; panels, consoles, desks, cabinets, etc. – 169.915 million euros; radio detection and radio sounding (radar) devices – 104.171 million euros; seamless tubes, pipes and tubular profiles – 77.139 million euros; ball, roller, roller or needle bearings – 75.978 million euros; electric motors and generators – 72.758 million euros; strands, cables, braided bands, ropes, skeins – 50.038 million euros; other alloy steels in ingots or other primary forms – 47.37 million euros; pumps for liquids, whether or not with a measuring device – 42.847 million euros, etc.
As for imports from the USA, more important values were recorded for the product groups: weapons of war, other than revolvers, pistols – 103.687 million euros; bombs, grenades, torpedoes, mines, rockets, cartridges – 29.969 million euros; parts and accessories for weapons of war, for revolvers and pistols, for other firearms and devices using explosive charges, for other weapons – 14.909 million euros; other air vehicles (helicopters, airplanes) – 95.984 million euros; radio or television broadcasting equipment – 68.398 million euros; petroleum oils/bituminous minerals – 68.570 million euros; turbojets, turboprops and other gas turbines – 58.901 million euros; flat rolled products of stainless steel – about 31 million euros; well gas and other gaseous hydrocarbons – 25.757 million euros, etc.
