By: Business Editor
Jordan Daily - Jordan has reached a new trade agreement with the United States that will preserve a preferential tariff advantage for Jordanian exports after Washington imposed additional import duties on most countries, Industry, Trade and Supply Minister Yarub Qudah said on Tuesday.
Qudah said the agreement followed more than a year of negotiations launched after the United States introduced additional tariffs on imports from most trading partners. It complements, rather than replaces, the U.S.-Jordan Free Trade Agreement, which entered into force in 2001 and continues to exempt qualifying Jordanian goods from U.S. customs duties.
Under the new arrangement, Jordan secured an additional tariff rate of 10%, the lowest level granted by Washington and one shared by only a small number of countries, while many others face higher rates, Qudah said.
He said the preferential treatment would particularly benefit the garments and textiles sector, which accounts for about 70% of Jordan’s exports to the United States, by improving competitiveness, attracting new investment and creating jobs. Further details on additional incentives for the sector will be announced in the coming days, he added.
Qudah said the agreement would also focus on reducing technical and administrative barriers to trade, facilitating the flow of Jordanian and U.S. goods.
He noted that U.S. products, including vehicles, have already been exempt from Jordanian customs duties under the 2001 free trade agreement, meaning no new tariff concessions were granted on imports from the United States.
The minister said the agreement is expected to take effect at the beginning of next month.
