President of the Zarqa Chamber of Industry, Faris Hammouda, has called for a renegotiation of the tariff structure imposed by the United States on Jordanian exports, warning of the economic strain caused by the 20% duties.Speaking to the Jordan News Agency (Petra), Hammouda said Jordan, like other countries, is grappling with the repercussions of the U.S. decision, noting that exports to the U.S. account for a quarter of Jordan’s total exports.He cited official figures showing Jordanian exports to the U.S. reached $3.11 billion in 2023, while the trade deficit stood at $1.24 billion.Hammouda highlighted the sharp increase in jewelry exports, which surged to $815 million in 2023, contributing to the trade imbalance in Jordan’s favor and, in turn, triggering higher tariff rates.He stressed that Jordan has long-standing trade ties with the United States, most notably a Free Trade Agreement that has helped boost bilateral trade from hundreds of millions to nearly $5 billion over the past two decades.Hammouda concluded by urging the government to swiftly adopt a strategic response aimed at easing the impact of the tariffs. He also proposed launching a trade dialogue focused on exempting non-targeted sectors and offering reciprocal incentives such as lowering taxes on U.S. car imports to Jordan in exchange for reduced duties on Jordanian goods. (ICE AMMAN)

Fonte notizia: petra news