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Latest News:
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Latest News:
Taiz Armed Forces Repel Houthi Mobilization on Northern Front
Health Minister Stresses Need to Enhance Preparedness for All Emergencies
Foreign Minister, Her Saudi Counterpart Discuss Partnership, Joint Cooperation to Manage Common Threats
'MASAM' Removes 7,444 Landmines, UXO, IED Over 14 Days
UK Warns of Dangerous Houthi Escalation, Reaffirms Commitment to Yemen’s Sovereignty
UN-ESCWA warns of repercussions of US tariffs on Arab economies
[20/04/2025 11:28]
BEIURT-SABA
The United Nations Economic and Social Commission for Western Asia (ESCWA) has warned of the repercussions of the new tariffs imposed by the United States of America on the economies of Arab countries.
The ESCWA affirmed that the US newly imposed tariffs threaten non-oil Arab exports to the US market estimated at $ 22 billion.
Arab exports to the United States declined from $91 billion in 2013 (equivalent to 6 percent of the region's total exports) to only $48 billion in 2024 (3.5 percent), as a result of Washington's lower imports of crude oil and petroleum products.
On the other hand, non-oil exports from Arab countries to the United States recorded remarkable growth, rising from $ 14 billion to $ 22 billion during the same period, in an indication of increasing economic diversification that is now threatened by US protectionist measures.
The United Nations Economic and Social Commission for Western Asia (ESCWA) has warned of the repercussions of the new tariffs imposed by the United States of America on the economies of Arab countries.
The ESCWA affirmed that the US newly imposed tariffs threaten non-oil Arab exports to the US market estimated at $ 22 billion.
Arab exports to the United States declined from $91 billion in 2013 (equivalent to 6 percent of the region's total exports) to only $48 billion in 2024 (3.5 percent), as a result of Washington's lower imports of crude oil and petroleum products.
On the other hand, non-oil exports from Arab countries to the United States recorded remarkable growth, rising from $ 14 billion to $ 22 billion during the same period, in an indication of increasing economic diversification that is now threatened by US protectionist measures.
Key words:
diversification - protectionist - repercussions - Washington's - indication - threatened - equivalent - increasing - Commission - remarkable -
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