The Iraqi government has taken several measures to address the tariffs imposed by U.S. President Donald Trump while revealing that most Iraqi exports to the U.S. are conducted through markets in other countries.
According to a statement from the media office of Prime Minister Mohammed Shia' Al-Sudani, "Al-Sudani chaired a meeting dedicated to studying the economic and trade impacts of the U.S. government's decision to increase customs tariffs on imports from countries worldwide, the repercussions of this step on the global economy, crude oil prices, and the extent of its impact on the Iraqi economy."
The statement added, "The meeting reviewed digital data from the Ministry of Trade, which revealed that the increase in U.S. customs tariffs on Iraqi goods was based on the trade balance disparity between the two countries, rather than tariffs imposed by Iraq on American goods."
It continued, "Data from the Ministry of Trade showed that the majority of Iraq's imports of American goods are conducted through markets in other countries, due to certain policies adopted by American companies in their trade dealings with Iraq."
In light of these findings, and to ensure the best path for developing Iraq's economy, the Prime Minister directed the implementation of necessary measures aligned with Iraq's economic interests, as follows:
1. Developing mutual trade relations by opening channels for distributors and American trade agencies, activating Iraqi trade agencies, and promoting direct trade between corresponding sectors in Iraq and the United States.
2. Enhancing banking services between financial and banking sectors in Iraq and the U.S., ensuring mutual economic benefits.
3. Review trade relations with the U.S. through a negotiation team to improve and build balanced economic and trade relations that ensure mutual interests and foster positive partnerships.
4. Engaging relevant ministries —Foreign Affairs, Finance, Trade, and others—to initiate dialogue with corresponding American sectors, strengthen trade relations, monitor financial markets and economic expertise, and submit weekly reports to the Prime Minister's office.