By Padraig O'Hannelly. As Donald Trump completes his first 100 days in as US President, what effect have his policies had on the Iraqi economy? Firstly, it's worth noting that the main implications of Trump's policies for Iraq have been the indirect results of decisions not directly targeted at Iraq. Increased tariffs and the resultant […]
By John Lee. Iraq's Council of Ministers has approved a series of preventive trade measures aimed at protecting domestic industries. These include the imposition of a 60% additional customs duty on imported transparent containers and single-use plastic cups from all countries, which will be in place for four years. The market will be monitored throughout […]
By John Lee. Prime Minister Mohammed S. Al-Sudani received a delegation from the U.S. Chamber of Commerce on Wednesday, including American investors and corporate executives, accompanied by the U.S. Chargé d'Affaires in Iraq. The meeting focused on strengthening economic ties and promoting Iraq as an attractive destination for foreign investment. The Prime Minister outlined steps […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a high-level meeting on Saturday to assess the economic and trade impact of the United States government's decision to raise customs tariffs on imports from multiple countries, including Iraq. The discussion addressed potential effects on global markets, crude oil prices, and Iraq's domestic economy. According to […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Tariffs, Oil Prices, and the Budget The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 1.6% for the […]
By John Lee. The United States will apply an additional duty rate of 39 percent to imports from Iraq, as part of President Trump's wide-ranging new tariff regime announced on Wednesday. The new rate, which comes into effect on Saturday, 5th April, does not apply to imports of oil, gas and refined products, according to […]
By John Lee. Iraq's Council of Ministers has approved a 40% additional customs duty on imported PET rolls made from polyethylene granules, used in the production of single-use water cups, food containers, and transparent storage products. The measure will be in effect for four years without reduction, with market conditions under review. Key Measures: Customs […]
By John Lee. Iraq's Council of Ministers (Cabinet) has imposed n additional 20 percent customs duty on imported steel rebar (10-32 mm) from all sources. The new rate is effective for four years starting October 3, 2024, and applies to tariff code 72142000. The Ministry of Industry and Minerals will monitor import increases compared to […]
By John Lee. The International Monetary Fund (IMF) has published a new report into Iraq's customs and tariff arrangements. This report summarizes key findings and recommendations from a remote technical assistance (TA) assignment performed by a short-term expert (STX), Mr. Djamel Bouhabel, from January 17 to February 4, 2021, to the General Customs Authority of […]
Iraq’s commercial attaché in Egypt said on Monday that the Arab League has set a 2012 deadline for the completion of a unified customs table in preparation for the 2015 launch of the Arab Customs Union. “The customs tables include all the goods that are traded in the world, and therefore rerquire enormous effort,” Ali […]
The Ministry of Planning and Development has reported that the inflation rate increased by 2% in January, bringing the rate to 5.8%. Abdul Zahra al-Hindawi told AKnews that the reasons behind the high inflation rate are higher rents and increases in the prices of imported food. The Ministry of Planning and Development in Iraq suggested […]
Further to our report last week on Iraq's new import tariffs, you can download the new tariff list in English by clicking on the link below: Import tariffs (English version) The Arabic version is contained in 21 large pdf files, and can be downloaded from the Ministry of Finance: Import tariffs (Arabic version) Iraq Business […]
