Published by Global Banking and Finance Review
Posted on May 6, 2025
BUCHAREST (Reuters) - Romania's hard-right presidential frontrunner George Simion said on Tuesday that if elected he would propose compensatory measures to U.S. President Donald Trump to mitigate the impact on Romanian companies of potential U.S. trade tariffs.
The eurosceptic Simion decisively swept the ballot on Sunday, with some 41% of votes, triggering the resignation of leftist Prime Minister Marcel Ciolacu and the collapse of the pro-Western coalition government.
Simion will face Bucharest Mayor Nicusor Dan, an independent centrist, in a May 18 run-off. The election is seen as a test of the rise of Donald Trump-style nationalism in the EU.
Romania's leu currency fell more than 2% on Tuesday, past the key 5 per euro level for the first time, and most of its international sovereign bonds continued to slide.
"Naturally, it would be impossible to negotiate a reduction in customs tariffs exclusively for Romania, as our country is part of the European single market and is bound by the same customs regulations as other EU member states," Simion told a conference on Tuesday.
"However, I plan to propose other compensatory measures to President Trump to mitigate the impact of this increase on Romania. Specifically, I will advocate for the enhancement of American investments in Romania."
"While President Trump and I both advocate for free markets, we recognize that governments have various mechanisms to support this goal, such as through assistance from Exim Bank USA."
Simion also said he aimed to consult with Italy's Prime Minister Giorgia Meloni, one of few European leaders he admires.
"Should I be elected, I will undoubtedly advocate for Romanian interests akin to how President Donald J. Trump supports American interests," Simion added.
"However, our respective interests converge, presenting an opportune scenario whereby my potential presidency would significantly favor American investments and enterprises in Romania."
Simion opposes military aid to neighbouring Ukraine, is critical of the EU leadership and says he is aligned with the U.S. president's Make America Great Again movement.
His victory could isolate Romania, erode private investment and destabilise NATO's eastern flank, political observers said.
(Reporting by Luiza Ilie; Editing by Gareth Jones)
Explore more articles in the Headlines category
