Economic analyst Noura Al -Faihani said that US President Donald Trump’s announcement of comprehensive customs duties on imports to the United States of America is an expected declaration in light of America’s changes in its economic system by increasing tax areas and fees obtained and imposing fees on the largest trade partners of the United States.
She explained in a special statement to the homeland that the customs duties imposed on the imports of the United States from the Gulf Cooperation Council countries, including the Kingdom of Bahrain, are the lowest rate of only 10%, and Britain, Singapore and Brazil also participate, while 34% fees were imposed on imports from China, 20% on the European Union, 24% on Japan and 26% on India.
Al -Faihani added in this context that the low percentage of customs duties imposed on Gulf imports to America will increase the competitiveness of Gulf exports in exchange for the same products from countries that have been imposed on a high fee due to the differences in the cost and the selling prices resulting from the different customs lineage.
The economic analyst emphasized that the economy of the Kingdom of Bahrain is one of the most diverse economies, but it is not the most affected by these decisions because of the solid base that the national economy has contributed to its power, its close ties extended with the various regional and global markets, but on the contrary, this declaration will contribute to enhancing the competitiveness of Bahrain’s exports in light of the higher fees imposed on various other countries exporting to the United States.
Al -Faihani indicated that the observer of the aluminum industry movement locally in America, for example, is difficult to cover the American market’s ability to have its actual needs for consumers from huge companies and individuals in the immediate and near term, as the actual need in the United States exceeds ten times its productive ability, so this is a qualitative opportunity to enhance our exports of manufacturing industries, which puts Aluminum Bahrain “Alba”, one of the largest mosque Aluminum in the world, in a competitive position Mahmoud, pointing out that Alba has exported approximately 20% of its production abroad to America, so the imposition of customs duties on aluminum imports has a very limited effect on the export chain.
Al -Faihani stressed that the Kingdom of Bahrain continues its policy to exempt all American goods from customs duties will lead to attracting investors, especially Americans, in a way that opens wider horizons to consolidate the Kingdom’s position as a regional commercial center in light of the presence of the American Trade Zone in Bahrain and considering it as a logistical outlet for American goods, in addition to the Kingdom of Bahrain benefiting from its strategic location among the Gulf Cooperation Council countries that also did not impose customs duties on American imports.
