Syed Hussein Al -Qassab – Photo: Suhail Minister
Discussions continue on the impact of the new customs duties imposed by the United States of America on its imports of some commodities, such as aluminum and iron, where economists in Bahrain are assessing the potential impact of these measures on the national economy.
While some consider that these fees may lead to challenges in the American market, others assert that Bahrain and the Gulf states will not be affected significantly, and that the Kingdom will remain in a strong competitive position thanks to its adaptive strategies and low taxes imposed on them compared to other countries.
“The fees imposed by the United States of America on some imported goods, such as aluminum and iron, are not new, but started several years ago.”
He explained that the aluminum, which is the largest products that Bahrain exported to the United States, was at the forefront of the goods that these fees had previously affected.
Al -Zayani added that these fees started during the period of US President Donald Trump’s first presidency, and continued during the mandate of former President Joe Biden, noting that these fees are one of some decisions that the Biden administration has not reflected since it took power.
He pointed out that the United States of America is always looking at the interest of its economy, which requires Bahrain to adapt to any variables, pointing out that the Kingdom is considered one of the countries that have been imposed on less fees compared to other countries, which enhances the position of Bahrain in global markets.
He stressed that this is a positive advantage for the Kingdom in light of the global competition, especially since the least tax proportions provide it with a greater opportunity to expand its share in the American market.
Regarding the aluminum sector, Al -Zayani stated that Bahrain has adapted to these fees several years ago, as the effects of prices were absorbed, stressing that imposing fees is higher on other countries that could be in the interest of Bahrain, as it enhances its competitiveness in the global market.
Al -Zayani indicated that Bahrain, thanks to its adaptive strategies, is considered in a strong location that allows it to continue to enhance its competitiveness, especially in the markets that are exposed to higher taxes by other countries.
For his part, the Chairman of the Board of Directors of the Traffco Ibrahim Zainal Group confirmed to Al -Watan that the impact of imposing fees on the imports of the United States of America from Bahraini products is premature to judge it, but he indicated that any fees imposed on trade in general would raise the cost, and therefore it will have an impact on the competitiveness of products. He said: «We will definitely be affected because we live in a global commercial system, and any influence on this system will affect us in Bahrain.
For his part, a member of the Board of Directors of the Bahrain Chamber, Abdel Wahab Al -Hawaj, assured Al -Watan that the new American drawings raise many questions and disparities in numbers between countries, which makes it early to judge their results.
Al -Hawaj said: “I do not see the results positive at first, but it is possible that they are adaptive in the long run by all countries.” He expressed his hope for the continued cooperation between Bahrain and the United States of America, expressing optimism about the possibility of achieving long -term stability in trade relations between the two countries.
With regard to the positive aspect, Al -Hawaj pointed out that Bahrain is one of the few countries that imposed a fee rate of only 10%.
In turn, the President of the Secretaries of the University of Applied Sciences and a member of the Board of Directors of the Bahrain Chamber, Dr. The prestige of Al -Khaja is that the Chamber and the concerned authorities in Bahrain are closely following the developments of imposing fees on the imports of the United States of America.
He explained that the topic is studied in general, excluding that there is a great impact as a result of these fees on Bahrain and the Gulf states.
He stressed that Bahrain continues to follow up on the developments of this file to ensure the stability of the economic situation in the Kingdom, while emphasizing that Bahrain and the Gulf states are in a relatively stable situation regarding these new drawings.
