Recent US tariff changes are set to trigger significant economic disruptions across the Middle East and North Africa (MENA) region, as reported by BMI, a FitchSolutions company.
These tariffs are expected to heavily affect economies, with Jordan being the most dependent on exports to the US, followed by Libya, Iraq, Bahrain, and Tunisia.
However, these nations may see some relief, as oil exports are exempt from tariffs, lowering the effective rates for many oil-exporting countries.
Libya, Iraq, and Kuwait will largely avoid tariffs, while Saudi Arabia and Algeria will see about 80% of their exports remain tariff-free. Countries like Qatar, the UAE, Bahrain, and Oman, with less reliance on oil exports to the US, will face higher effective rates.
While these changes could lead to manageable economic impacts in places like Bahrain, both Bahrain and the UAE are already facing challenges from special 25% tariffs on aluminium, which could add further strain.
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