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Friday, April 04, 2025

Trade war, inflation: UAE experts explain how Trump’s tariffs could impact consumers, businesses

By Vijay Valecha in 'Century in News'

Trade war, inflation: UAE experts explain how...

Vijay Valecha, Khaleej Times, April 4, 2025

The imposition of a 10 per cent tariff on UAE by US president Donald Trump will have a multifaceted but minimal impact on the country’s economy, according to experts. However, some noted that consumers will bear the brunt of the situation.

On Wednesday, Trump announced 10 per cent baseline tariff on all imports to the US and higher duties on several countries. This includes duties on GCC countries, with 10 per cent on the UAE and Saudi Arabia, and 20 per cent on Jordan.

Vijay Valecha, chief investment officer at Century Financial, pointed out that the impact would be minimal and provide opportunities. “Given the relatively low volume of bilateral trade between the US and GCC members, the baseline tariffs are unlikely to have a significant economic impact on these countries,” he said.

He added that the most direct impact would be felt by the aluminum industry, as GCC nations account for 16 per cent of America’s aluminum imports. “Bahrain, Oman, Qatar, and Saudi Arabia are the primary suppliers of aluminum to the US, with the UAE ranking as the second largest supplier after Canada,” he said.

Source

Khaleej Times

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