The introduction of a 10% tariff on products from Montenegro by the United States (US) could have an impact on companies like Noblewood Vodka and Plantaže. However, the effect may be positive as the tariff on Montenegrin products is lower than that of some competing countries.
This was announced by the Montenegrin Government and the state-owned company Plantaže. The Vice Prime Minister for Economic Policy and Minister of Economic Development, Nik Đeljošaj, told “Vijesti” that Montenegro will not retaliate with increased tariffs on US products.
US President Donald Trump recently imposed tariffs on goods from over 150 countries, ranging from 10% to 49%, based on the value of the imported goods. He explained that these “reciprocal tariffs” are applied in approximately half the rate of what the countries charge on US products.
Montenegro already has certain tariffs on US products, ranging from 10% to 30% (for dairy products and alcoholic beverages), with an average rate of 20%. In line with Trump’s order, a 10% tariff has been applied to Montenegrin goods.
In 2024, Montenegro exported goods worth five million euros to the US, including 2.5 million euros in alcoholic beverages, wines, and beers. Vodka from the Noblewood brand was valued at about two million euros, while Plantaže’s exports amounted to approximately 400,000 euros.
Đeljošaj emphasized that the lowest tariff rate on Montenegrin products reflects strong economic relations and continued friendly relations between Montenegro and the US. He highlighted the long-term partnership based on shared Euro-Atlantic values and the economic cooperation memorandum signed last year.
The European Union, which also faces tariffs ranging from 10% to 49%, has indicated the possibility of countermeasures and additional tariffs on US products. However, Montenegro will not impose tariffs on US goods, demonstrating its commitment to the alliance with the US.
Among the countries in the region affected by new tariffs are Serbia (37%), Bosnia and Herzegovina (35%), North Macedonia (33%), and Albania and Kosovo (10%). Croatia and Slovenia, as EU members, face tariffs of 20%.
Trump’s tariff policy aims to reduce domestic production costs in the US and pressure other countries to lower tariffs on US imports.
Prime Minister Milojko Spajić expressed gratitude for the government’s efforts, noting that the lowest tariff on Montenegrin goods was achieved due to strong partnership, and announced an upcoming agreement with the US on joint investments.
Plantaže sees opportunity due to higher tariffs on competitors
Plantaže noted that they have been exporting wine and brandy to the US for decades, and this is the first time tariffs have been imposed. The value of exports is nearly 400,000 euros. They acknowledged that the 10% tariff would raise the prices of their products, but also saw an opportunity as regional and major wine-producing countries face higher tariffs, which could increase demand for Montenegrin products.
Noblewood expressed uncertainty about the impact of these tariffs, as official legislation on the new tariffs has not yet been published. They plan to address the issue once more information is available.
