Trump’s steel and aluminium tariffs might hamper Albania’s exports towards US

New import tariffs proposed by the Trump administration that are causing a war of declarations in every corner of the globe seem to hurt Albania as well.

Albania has a negative trade balance with the United States, but however the volume of exports is not negligible.

In 2017, Albania exported goods worth ALL 3.4 billion, which translates to around $ 32 million.

US President Trump has promised a 25% tax on imported steel from abroad and a 10% fee on aluminum.

Meanwhile, the group of goods that make up the largest value of Albanian exports to the United States is precisely the metals and building materials.

This category was worth $ 20 million in 2017.

The data for January also refer to a threefold increase in exports to the United States.

Thus, imposing customs duties on the part of the US administration on these goods translates into a major blow to these exporters.

That would limit, not to say, eliminate the demand from the outside.

According to detailed data from the General Directory of Customs, Albania has exported aluminum at the value of ALL 313 million in 2017, which translates to around $ 3 million, which is not a negligible figure for the Albanian economy.

As far as steel is concerned, exports are almost negligible, as they are worth only 32,000 dollars a year.

SCAN 

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.