Iraq takes a calm stance on the US tariff increase.
Iraq takes a calm stance on the US tariff increase.
2025/04/03
In the face of the aggressive trade policies adopted by the administration of US President Donald Trump, Iraq has taken a calm stance, minimizing the direct economic impact of the decision to raise customs duties by 39% on its exports to the United States.
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The Prime Minister’s economic advisor, Mazhar Mohammed Salih, said in a press statement: “If US tariffs are truly imposed on our country’s trade with it, they will not constitute any obstacle to Iraq’s commercial and economic stability.”
He explained that “Iraqi exports to the US market do not exceed $5 billion annually, most of which is crude oil, while the US market is secondary compared to major markets such as China and India, which import approximately 70% of Iraq’s oil production.”
Saleh pointed out that “this conciliatory approach from Baghdad reflects a realistic reading of the balance of foreign trade, as Iraq relies on partners such as Turkey, China, India, the UAE, and the European Union for 90% of its imports. In contrast, the United States is not a major partner, whether at the import or export levels.”
Despite his confident tone, Salih expressed some concern about the general trajectory of US trade policy, saying, “We hope that Iraq will be immune to these protectionist shifts, especially since it is bound to Washington by the Strategic Framework Agreement signed in 2008, which regulates bilateral relations in the areas of security, trade, and economic cooperation.”
alforatnews.iq
