JCI discusses implications of imposing tariffs on exports to US

AMMAN — The Jordan Chamber of Industry (JCI) on Sunday held a meeting with industrial companies that export to the US and the boards of directors of the chambers of industry to discuss the implications of US President Donald Trump's decision to impose tariffs on exports to the US at 20 per cent.

Minister of Industry, Trade and Supply Yarub Qudah said that the new US tariff system is a policy of tariffs on imports to the US market from many countries, and it is a global policy and does not target Jordan only, according to Al Mamlaka TV.

Qudah added that the tariff policy will have an impact on Jordanian exports to the US market.

He stressed that the government has begun to discuss solutions and ways to enhance the competitiveness of the concerned economic sectors following the recent US decisions to find solutions to any challenges for the benefit of everyone and to maintain the competitiveness of Jordanian exports and the strategic economic relationship with the US.

The Kingdom's trade balance with the US for 2024 achieved a surplus of JD877 million.

Foreign trade data issued by the Department of Statistics showed a "remarkable" growth in national exports to the US last year, reaching JD2.208 billion, compared with JD1.958 billion in 2023, marking an increase of 12.8 per cent

The value of the Kingdom's imports from the US market last year amounted to JD1.331 billion, compared with JD1.161 billion in 2023, an increase of 14.6 per cent.

The volume of trade exchange between the two countries increased during the past year to JD3.539 billion, compared with JD3.119 billion in 2023.

According to statistical data, national exports to the US constituted 25.7 per cent of the total value of Jordanian exports in 2024.