Serbia’s President Aleksandar Vucic expressed optimism for improved relations with the United States following his first phone call with US president-elect Donald Trump on November 10. The call signals a potential shift in regional dynamics as Trump prepares to take office.

In an Instagram post, Vucic described the conversation as “very cordial”, adding that he looks forward to “further improvement” in ties between Serbia and the United States under Trump’s leadership.

“Trump knew many things about Serbia,” Vucic said, adding that he had invited the incoming president to visit Serbia, a country that “showed the highest level of support for Trump’s election in all of Europe.”

The conversation reflects Serbia’s anticipation of a recalibrated relationship with Washington. Trump’s return to the White House, however, has also raised concerns among some analysts who fear his presidency could embolden nationalist leaders in the region, particularly given ongoing tensions in Kosovo and threats of secession by Republika Srpska leader Milorad Dodik in Bosnia & Herzegovina. 

During Trump’s previous term, US involvement in the Balkans culminated in a historic 2020 economic agreement between Serbia and Kosovo. The deal, brokered just before Trump’s loss to Joe Biden, was overseen by Trump’s former Balkans envoy, Richard Grenell, who remains closely allied with Vucic.

Grenell is expected to return to his former role or assume a more prominent post, such as secretary of state, in Trump’s new administration. His potential appointment has reignited speculation about a possible land swap between Serbia and Kosovo, a proposal once floated as a solution to the long-standing dispute between the two nations.

In addition to political ties, Grenell has also cultivated business links between the Serbian government and the Trump network. Earlier this year, Serbia's government approved a high-profile real estate deal with Trump’s son-in-law, Jared Kushner, to develop a luxury hotel on the site of Belgrade’s former defence ministry, which was destroyed in Nato’s 1999 bombing campaign. The project underscores the potential convergence of political and business interests between Vucic’s government and the incoming Trump administration.

Kushner’s business ventures have stirred some controversy, with critics questioning the overlap of his business pursuits with Trump’s political interests in the Balkans. Kushner has denied any connections between his business dealings and his father-in-law’s political role. “No one is ‘giving’ me deals,” Kushner stated, distancing himself from a potential return to the White House.