The 10% reciprocal tariff imposed by US President Donald Trump on Oman and other GCC countries will have a “relatively limited and non-threatening impact” on the sultanate’s economy, according to H E Dr Nasser bin Rashid al Mawali, Undersecretary of the Ministry of Economy.

In a statement on X platform, H E Dr Mawali said that Oman would remain largely unaffected, as US imports of oil, gas, and refined products are exempt from the new tariffs. However, he noted that the broader impact on Oman’s economy could arise from disruptions in global trade and a potential slowdown in global economic growth.

“There is also an opportunity to boost foreign investment in the sultanate and strengthen supply chains from countries adversely affected by the imposition of high US customs duties. Oman can leverage its strategic location and status to serve as a transit hub and a gateway to the American market for countries,” he added.

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