President Trump’s new tariffs hit 185 countries, with Kazakhstan facing the highest rate at 27%. Kazakhstan now seeks talks with U.S. officials to ease the impact.
On April 2, U.S. President Donald Trump imposed reciprocal tariffs on 185 countries, including all Central Asian nations. The most significant tariffs were levied on Kazakhstan, with a retaliatory 27 percent tariff, while other countries in the region face a 10 percent tariff.
The U.S. has justified these tariffs by claiming that Kazakhstan applies tariffs of up to 54% on American goods, though no further details or explanations have been provided on this figure. This has raised questions among Kazakhstani exporters, who are left uncertain about the basis for these claims.
Despite the rising tension over tariffs, the United States is not a major trading partner for the Central Asian countries, including Kazakhstan. In 2024, Kazakhstan's exports to the United States amounted to $1.97 billion, primarily in oil, uranium, ferroalloys, and silver. This accounted for just 2.4% of Kazakhstan's total exports. Meanwhile, Kazakhstan imported $2.24 billion worth of goods from the United States, representing 3.4% of its total imports.
The introduction of tariffs on Kazakhstani goods may present new economic challenges for the country. Economist Ruslan Sultanov observed that the move underscores the growing breakdown of the global trade system. "The WTO is losing credibility, and the rules of trade are no longer universal; they depend on political will," Sultanov stated. He emphasized that the Kazakh Ministry of Foreign Trade would need to engage in intensive negotiations with the U.S. to address the new trade conditions.
Kazakhstan currently has an average customs tariff rate of about 5%, according to the World Trade Organization (WTO). The Ministry of Trade of Kazakhstan has pointed out that 92% of its exports to the United States consist of crude oil, uranium, silver, ferroalloys, and other raw materials - items which are exempt from the new tariffs under Trump's decree. However, the Ministry noted that the new tariffs will affect approximately 4.8% of Kazakhstan's total exports to the U.S.
While the direct impact on trade volume might appear limited, the broader economic consequences could be more significant. Trump’s decree has already disrupted global markets, with oil pricesvital to Kazakhstan’s economy declining. The potential for inflationary pressure, caused by higher tariffs and price fluctuations, is a significant concern for Kazakhstan’s economy, which relies heavily on oil exports.
In response to the tariffs, Kazakhstan plans to consult with U.S. authorities to explore the possibility of tariff exemptions or reductions. These discussions will be crucial in mitigating any negative impacts on Kazakhstan’s economy.
Rwanda and Tanzania signed two key agreements in Kigali on Saturday to enhance cooperation in agriculture and port logistics....
The Kremlin claims Ukraine and Western nations are rejecting all proposals for dialogue to resolve the war, as Russia and Ukraine held peace talks in ...
The White House allegedly ordered a halt to Pentagon lie detector tests after claims they targeted top officials....
Three drones flew over Japan’s Genkai nuclear plant on Saturday, prompting an investigation by the country’s nuclear watchdog. No irregularities o...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 27th of July, covering the latest developments you need to kno...
Talks in Malaysia between top diplomats from Russia and the United States were described by the Russian Foreign Ministry as "substantive and frank" with both sides confirming their interest in seeking peaceful solutions to international conflicts.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Senior officials from the United States and Georgia met in Tbilisi to review bilateral relations and regional security amid ongoing diplomatic discussions.
Iran has condemned the U.S.-Iran nuclear negotiations as “meaningless” after Israel’s largest strike on Iranian targets, accusing Washington of backing the attack. The planned sixth round of talks faces uncertainty amid escalating tensions.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Rwanda and Tanzania signed two key agreements in Kigali on Saturday to enhance cooperation in agriculture and port logistics.
The Kremlin claims Ukraine and Western nations are rejecting all proposals for dialogue to resolve the war, as Russia and Ukraine held peace talks in Türkiye.
The White House allegedly ordered a halt to Pentagon lie detector tests after claims they targeted top officials.
Three drones flew over Japan’s Genkai nuclear plant on Saturday, prompting an investigation by the country’s nuclear watchdog. No irregularities or threats were found, authorities said.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 27th of July, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment