The US is set to eliminate 35% tariffs on Serbian goods, Serbian President Aleksandar Vucic announced, in a move expected to boost trade between the two nations.
The move comes as the US and Serbia continue to strengthen ties, with the two countries engaging in high-level diplomatic efforts in recent months.
According to Vucic, the decision to lift the tariffs will benefit both countries, increasing trade and investment opportunities.
While no specific date for the implementation of the tariffs' elimination has been announced, Vucic stated that the decision marks a significant step forward for economic cooperation between the two nations.
The elimination of tariffs is expected to have a positive impact on Serbia's economy, which has been heavily reliant on trade with the EU.
However, it remains to be seen how the move will affect the US economy, with some analysts cautioning that the decision may lead to increased competition for American businesses.