New shockwaves hit the global economy on April 2: President Donald Trump announced much higher than expected and wide-ranging reciprocal tariffs, intensifying worldwide trade and economic uncertainty. Egypt escaped relatively unscathed, with only a 10% baseline tariff on goods exported to the US. However, Cairo should still feel the effect of harsher tariffs on other countries as it is expected to result in lower global economic growth. The increase in uncertainty will dampen private sector investment, which is particularly concerning for Egypt given the government’s divestment drive. On April 9, the US paused tariffs above 10% for 90 days.
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