The members of the Management Board of the Bulgarian Industrial Capital Association (BICA) discussed yesterday (April 10, 2025) the effects of the new customs tariffs that the United States is introducing on the import of certain products from the European Union.
BICA has already organized a survey among its members, the aim of which is to determine the impact of the US import restrictions on Bulgarian companies. The questions concern the direct and indirect effect of the tariffs on the activities of the companies, including expectations for economic activity, sales, jobs, supply chains. Thus, BICA will be able to prepare both an assessment of the effects on the Bulgarian economy and to summarize national support measures according to the expectations of the affected producers.
In the face of increasing global economic and trade challenges, including the risk of new tariffs from the US, the unity of the European Union is of key importance. According to BICA, only through a common, coordinated position can we protect the competitiveness of Bulgarian business and the European economy, ensure the sustainability of the industry and defend our public interests. BICA strongly supports the efforts of the European institutions for a unified response and solidarity in protecting the economic interests of the Member States and will provide maximum assistance to the Bulgarian authorities involved in the issue for a full-fledged dialogue with our European partners.
Meanwhile, BICA is actively seeking cooperation and achieving adequate solutions with related organizations in the European Union, with social partners, and will assist its members in establishing sustainable trade relations in new market regions.
Later in the day, representatives of the AICB took part in a working meeting with the Economic Affairs Counselor Mr. Ben Hilbury from the US Embassy in Bulgaria, at which they discussed the impact of the new customs tariffs on Bulgarian business, bilateral trade, already launched and future projects and the overall economic environment, reaffirming the position of the Board of Directors on these current topics.
