AJ
GO Al-SUDANI
He gave directions to enhance banking and financial services between US and Iraqi firms WHY?
Al-Sudani responded to tariffs
by issuing four directives aimed at protecting Iraq’s economic interests and fostering an equal trading relationship with the United States.
Addressing Trade Imbalances - Through Direct transactions, customs charges on Iraqi exports was based on the imbalance of trade between the two countries instead of on Iraqi customs regulations against US products.
The assessment showed that the vast bulk of Iraq’s purchases of US goods come from marketplaces in other countries due to specific procedures that American businesses have adopted in their business interactions with Iraq
The measures were taken during a meeting chaired by Prime Minister Mohammed Shia Al-Sudani to address the commercial and financial impacts of Washington’s decision to increase customs charges on items imported from other countries.
By improving banking and financial services, Al-Sudani aims to create a more efficient trade ecosystem that can absorb some of these costs of tariffs. A better financial services would enable Iraqi firms to access U.S. markets more competitively, negotiate better terms, or explore alternative payment mechanisms that reduce the financial burden of tariffs.