US President imposes 10% duty on goods from Armenia
YEREVAN, April 3. /ARKA/. US President Donald Trump has announced the introduction of new mirror tariffs on imported goods from 183 countries (territories) and the EU.
Armenia is also included in the list, with a minimum (basic) tariff of 10% established for it, similar to the tariffs for Georgia, Azerbaijan, and several other countries.
US Economic Emergency
According to the decree published on the White House website, Trump has declared a state of emergency in the economy. This grants him broad powers to set tariffs.
The decree states that disparate tariff rates and the lack of reciprocity in bilateral trade relations, as reflected in the US trade deficit, have become an unusual and extraordinary threat to national security.
According to the list published by the White House, the tariff rate on imported goods from China will be 34%, from Europe 20%, and from Japan, 46%, with retaliatory tariffs of 24%. India's tariffs on American goods are set at 52%, with retaliatory tariffs at 26%.
"If you want tariffs to be at 0%, then produce your goods here in the United States," President Trump stated.
Armenian-American Trade Turnover
According to Armstat, Armenia's foreign trade turnover with the United States in 2024 amounted to almost $410.6 million, showing a decline of 38.7% compared to 2023. Armenian exports to the United States totaled about $58.9 million (a 21.5% increase), while imports from the US amounted to over $351.6 million (a 43.4% decrease).
In general, Armenia's total foreign trade turnover for the entire year of 2024, compared to 2023, increased by 41.5%, reaching $30.16 billion.
