FRANK26: "THIS IS OUR STUDY REGARDING PRESSURE ON THE EXCHANGE RATE OF THE IQD!!!", 7 APRIL

 KTFA

FRANK26: "THIS IS OUR STUDY REGARDING PRESSURE ON THE EXCHANGE RATE OF THE IQD!!!"....F26

The Iraqi government takes four steps regarding Trump's taxes

4/5/2025

 

The Iraqi government took several steps on Saturday to counter the tariffs imposed by US President Donald Trump, while revealing that most Iraqi exports to the US are made through markets in other countries.

The media office of Prime Minister Mohammed Shia al-Sudani said in a statement received by Shafaq News Agency, "Al-Sudani chaired a meeting dedicated to examining the economic and commercial impacts of the US government's decision to increase customs duties on their imports of goods from countries around the world, and the repercussions of this step on the global economy as a whole, on crude oil prices, and the extent to which the Iraqi economy will be affected in this regard."

He added, "The meeting reviewed digital data issued by the Ministry of Commerce, which reveals that the percentage of US tariff increases on Iraqi goods was based on the difference in the trade balance between the two countries, and not on the customs duties imposed by Iraq on US goods."

He continued, " It has become clear, through Ministry of Commerce data, that the majority of Iraq's imports of American goods are made through markets in other countries, as a result of certain policies pursued by American companies in their commercial dealings with Iraq."

He pointed out that " in light of these facts, and in order to ensure the best path for developing the Iraqi economy, the Prime Minister directed that the necessary measures be taken, in accordance with what the higher interests of the Iraqi economy dictate, as follows:

First, work to develop mutual trade relations, by opening outlets for distributors and American commercial agencies, activating Iraqi commercial agencies, and direct trade dealings between sectors corresponding to the United States of America."

Second: " Working to develop banking services between the banking and financial sectors in Iraq and the United States of America, in a way that ensures the achievement of mutual economic interests.

Third: Directing the negotiating team with the American side to review the foundations of the trade relationship with the United States, with the aim of improving it, and ensuring the building of balanced economic and trade relations that guarantee mutual interests between the two parties, and develop a positive partnership."

The fourth directive: The Ministries of Foreign Affairs, Finance, and Trade, along with relevant stakeholders, shall undertake to open a dialogue with the corresponding American sectoral counterpart, ensuring the strengthening of trade relations, monitoring financial markets and economic expertise, and submitting weekly reports to his office.

LINK