Bulgarian President Rumen Radev on Wednesday warned that newly imposed global tariffs were shaking markets and called on the European Union to respond with unity, innovation, and stronger economic coordination.
Speaking at the Delphi Economic Forum in Greece, Radev said the rapidly evolving geopolitical landscape, marked by trade tensions and economic uncertainty, was challenging Europe’s economic resilience and security.
“The architecture of international security is crumbling. Long-established business models are disintegrating. Newly imposed large-scale tariffs are already shaking the markets. Stagnation is affecting the leading European economies,” Radev said.
His remarks came on the day new U.S. tariffs on a range of countries, including members of the European Union, came into force. The European Commission has since voted to impose a 25% retaliatory tariff on certain U.S. goods.
Radev stressed that the EU’s response should focus on strengthening competitiveness, developing capital markets, boosting innovation and artificial intelligence, advancing the energy transition, and most importantly, preserving unity among member states.
The Bulgarian president also highlighted national progress toward joining the Organisation for Economic Co-operation and Development (OECD), announcing that Bulgaria had completed 11 out of 25 required sectoral reviews and was working to finalize the remainder by the end of the year.
The Delphi Economic Forum, often referred to as the “Davos of Southeast Europe,” gathers political and business leaders to discuss regional and global challenges, with this year’s focus including defense, trade, and energy security.
