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Trump’s tariffs could hit Americans hardest
Gulf Today
|April 07, 2025
Trump believes that tariffs will boost the US economy and return manufacturing plants which have gone abroad due to high US labour and other costs.
However, this will take time and could outlast Trump’s reign, leaving US consumers with price rises for imports used on a daily basis.
Donald Trump’s imposition of tariffs on US imports from most countries is destructive on the global level and can be expected to impact negatively the Eastern Arab World and North Africa. Ironically, US consumers are likely to bear the main brunt of Trump’s tariffs. The majority of countries in this region have been charged 10 per cent reciprocal tariff on goods exported to the US. Bahrain, Egypt, Iran, Kuwait, Lebanon, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Sudan, Turkey, the UAE, and Yemen have been given the lowest rate. Algeria has been charged at 30 per cent as it imported $56 million in tariffs on US imports. Iraq has attracted a 39 per cent tariff as it imports $78 per cent on US imports, Israel 17 per cent as it imports 33 per cent on US imports. Jordan must pay 40 per cent as its accused of charging 40 per cent tariffs on US imports although Amman and Washington signed a free trade agreement in 2000.
Bu hikaye Gulf Today dergisinin April 07, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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