Romania's direct exports to the United States represent approximately 2% of the country's total exports, however, the indirect impact of the new tariffs imposed by the U.S. may be felt in sectors such as the automotive industry, furniture and wood products, steel and iron goods, rubber and rubber products, industrial equipment, and the food industry, which are part of global supply chains, Concordia Employers' Confederation Director Radu Burnete said on Thursday.

'Romania has benefited significantly from global trade, and the imposition of new tariffs by the Trump Administration on the European Union is not good news for our economy. The first reaction of the local market following the information from the U.S. was seen in the Bucharest stock exchange opening, which was in the red. Investors, as expected, are worried and want to see the next developments, uncertainty is currently the key word. Although Romania's direct exports to the United States account for about 2% of total national exports, the indirect impact can be felt in sectors such as the automotive industry, furniture and wood products, steel and iron goods, rubber and rubber derivatives, industrial equipment, and food, which are part of global supply chains. We will therefore be significantly affected through trade with EU member states, where Romania has very high exposure (70% of total exports are to EU countries), and where European partners have more extensive commercial relations with the U.S.,' Burnete explained in a statement sent to AGERPRES.

He stressed that negotiations will take place among trade partners, and developments will be closely monitored to better identify the effects on the Romanian economy.

'We are waiting to see how the international market will react and how the other EU member states will respond. It is important to have coordination among EU member states. Currently, at Concordia, we are having internal discussions with our members to calculate the impact of these tariffs. The good thing is that we are EU members, a huge market for us,' Radu Burnete pointed out.

Donald Trump launched his total trade war on Wednesday, announcing what he called 'reciprocal tariffs' globally, with the aim of 'reviving' the U.S. industry and putting an end to the 'plundering' of the United States, according to Reuters and AFP.

The U.S. President said that the tariffs will not be completely reciprocal.

Trump announced a 20% tariff on products imported from the European Union. AGERPRES (RO - writing by: Nicoleta Gherasi; EN - writing by: Adina Panaitescu)