Armenia needs to establish ties with the Arab world – economist on possible losses amid new US tariffs

YEREVAN, April 4. /ARKA/. Armenia should consider establishing ties in the Middle East, said Tatul Manaseryan, Doctor of Economics and Professor, in an interview with ARKA news agency. He was responding to a question about whether the country could compensate for potential losses from new US duties by increasing trade with other partners.

US President Donald Trump plans to introduce new mirror duties on imported goods from 183 countries, including Armenia, starting April 5, with a 10% duty imposed on Armenian goods.

"Before assessing the potential losses in trade with the United States, Armenia should think about what kind of ties it can establish in the Middle East, particularly with Arab countries, to leverage its competitive advantages. Only then should the country consider North America, South America, and other regions," he said.

At the same time, Manaseryan does not consider this issue a priority for Armenia’s current agenda.

"There are other matters that need to be addressed before worrying about the Trump administration's decision," he added.

Manaseryan also pointed out that the volume of Armenian exports to the US is not particularly large, so he does not yet see specific sectors that may be significantly impacted by this decision. According to Armstat, Armenia's foreign trade turnover with the US in 2024 totaled nearly $410.6 million, representing a decline of 38.7% compared to 2023. Armenian exports to the US amounted to about $58.9 million (a 21.5% increase), while imports from the US totaled more than $351.6 million (a 43.4% decline).