An economist warns of the repercussions of US taxes on Iraqi exports.
An economist warns of the repercussions of US taxes on Iraqi exports.
7-13-2025
Al-Maalouma / Baghdad..
Economic expert Safwan Qusay called on Sunday for a review of the nature of trade relations between Iraq and the United States, in light of the latter’s imposition of new taxes of 30% on Iraqi exports. He stressed the need to take balanced steps that guarantee Baghdad’s interests and open up prospects for mutual investment.
Qusay said in a statement to Al-Maalouma Agency, “Washington’s decision to raise taxes on Iraqi exports poses a new challenge to the national economy and pushes for a comprehensive review of the existing trade balance between the two countries, in a way that achieves justice and stimulates mutual growth.”
He added, “One of the most prominent steps required at this stage is to reduce customs tariffs on US goods entering the Iraqi market, in exchange for similar facilities for Iraqi goods destined for US markets, thus creating a more balanced and stable environment for bilateral trade.”
He pointed out that “Iraq is also seeking to enable its banks to conduct direct transfers in dollars to the United States, which will positively reflect on the volume of trade exchange and enhance mutual confidence in the financial sector.”
He continued, “The immediate impact of the US taxes will be limited, given the current limited Iraqi exports to the US. However, Iraq plans to expand its exports in the future to include sectors such as iron, cement, and phosphates, which requires prior addressing of trade barriers.”
He pointed out the importance of “reaching an agreement to eliminate mutual customs duties, as it contributes to supporting US products in the Iraqi local market and increases the options for Iraqi consumers, especially with regard to global brands.”
He concluded by saying, “The proposed economic document between Baghdad and Washington opens the door for Iraqi investors to enter the US market, especially in sectors such as refineries and factories, amid indications of US welcome for this step, which represents an important opening for the Iraqi investment portfolio to global markets.”
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