RIYADH: Gulf exports have become targets of US President Donald Trump’s tariffs, which he raised from 10 percent to 15 percent on all countries.
The increase comes after the US Supreme Court ruled that the legal basis Trump had used to impose earlier tariffs was unlawful.
Previously, Gulf countries were among the few that had not raised their tariffs above 10 percent, while many other countries, most notably China, had already been subject to higher tariffs. However, with this latest increase, the Gulf states will be among those affected.
According to the financial analysis unit of Al-Eqtisadiah newspaper, Gulf exports to the US in 2024 amounted to about $26.2 billion, with Saudi Arabia accounting for roughly half of that, at $12.7 billion. These exports are subject to potential additional tariffs of SR637 million ($169 million).
It is likely that tariffs on Saudi exports will grow from $1.3 billion annually to $1.9 billion, a rise of 50 percent, following Trump’s recent increase.
