Muscat: In the wake of his announcement regarding extensive global tariffs, US President Donald Trump stated that a 10 percent tariff will be applied to Gulf Cooperation Council (GCC) nations, including Oman.
The tariffs will be set at 10 percent for Oman, the UAE, Saudi Arabia, and other GCC members such as Kuwait, Bahrain, and Qatar.
Previously, Trump indicated his intention to visit the UAE, Saudi Arabia, and Qatar as soon as May. The White House has confirmed that the new tariffs will take effect on April 5, with increased rates for certain countries starting on April 9.
"This is our declaration of independence," Trump remarked during an event in the White House Rose Garden. He showcased a poster detailing reciprocal tariffs, which include rates for China (34 percent), the European Union (20 percent), Vietnam (46 percent), Taiwan (32 percent), Japan (24 percent), India (26 percent), the United Kingdom (10 percent), Bangladesh (37 percent), Pakistan (29 percent), Sri Lanka (44 percent), and Israel (17 percent).
Moreover, beginning April 9, countries with the largest trade deficits with the US will incur higher, tailored tariffs.
In a fact sheet titled 'President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security,' the White House stated, "President Trump is exercising his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to tackle the national emergency created by the significant and ongoing trade deficit, which is exacerbated by the lack of reciprocity in our trade relationships and other detrimental practices such as currency manipulation and excessive value-added taxes (VAT) imposed by other nations."
It was announced that President Trump will utilize his IEEPA authority to implement a 10% tariff on all nations, effective April 5, 2025, at 12:01 am EDT.
Additionally, the fact sheet indicated that President Trump will establish a tailored reciprocal tariff for countries with which the United States has significant trade deficits. All other nations will remain subject to the initial 10% tariff baseline, with this measure taking effect on April 9, 2025, at 12:01 am EDT.
These tariffs will remain in place until President Trump decides that the issues related to the trade deficit and the lack of reciprocal treatment have been adequately addressed or resolved.
The fact sheet also mentioned that the IEEPA Order includes modification authority, enabling President Trump to raise tariffs if trading partners retaliate or to lower them if those partners take substantial actions to correct non-reciprocal trade practices and align with the United States on economic and national security issues.
Importantly, Trump revealed new import tariffs on Wednesday (local time), detailing the rates that will be applied globally, with India facing a 26% tariff.
During the Make America Wealthy Again Event, Trump stated, "The United States imposes only a 2.4% tariff on motorcycles, while countries like Thailand charge as much as 60%, India imposes 70%, Vietnam has a 75% tariff, and others are even higher."
Furthermore, the US President announced that a 25% tariff would be levied on all foreign-made automobiles, asserting, "Such severe imbalances have harmed our industrial base and jeopardized our national security. I do not hold these other countries responsible for this situation; rather, I blame previous presidents and leaders who failed to fulfill their responsibilities... Starting at midnight, we will implement a 25% tariff on all foreign-made automobiles."
