: Sunday, 20 April 2025 10:46 am
Berut. According to the United Nations Economic and Social Commission West Asia (ESCWA), the rapid increase in trade protectionism in the US is increasing pressure on the economy of Arab countries, threatening non-oil exports worth $ 22 billion.
According to the report by the news agency Xinhua, Jordan is seen in the weakest position, as about a quarter of its goods are sent to the US. Bahrain has also been identified, as it exports aluminum and chemical substances to the US very much.
Meanwhile, the United Arab Emirates may obstruct the re -export of US $ 10 billion goods. The ESCWA has also warned that the Gulf Cooperation Council (GCC) economies are facing increasing financial stress due to a sharp fall in global oil prices.
The ESCWA further said, “Financial challenges may also increase for non-GCC countries. Egypt, Morocco, Jordan and Tunisia may have to pay an additional $ 114 million in an additional $ 114 million in sovereign interest payments due to increase in global bond yields in 2025 and investors’ uncertainty. This may cause an additional payment on national budget and increase in development.
The ESCWA report came at a time when US President Donald Trump earlier this month signed an executive order to impose so -called ‘mutual tariffs’ on his business partners amid widespread opposition.
Trump had earlier said, “The country which is unable to make any compromise with the US till July 9 will be implemented by the mutual tariffs declared on their products.”
For India, this would mean that the tax will again increase to 26 percent, which was earlier reduced to 10 percent. Rates have been revised in the same way for other countries, which have chosen the path of conversation instead of increasing tariffs against the US, such as China.
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