Trump Hits Iraq with New Tariffs, Excluding Imports of Oil, Gas & Refined Products

The United States will apply an additional duty rate of 39 percent to imports from Iraq, as part of President Trump's wide-ranging new tariff regime announced on Wednesday. The new rate, which came into effect on Saturday, 5th April, does not apply to imports of oil, gas and refined products, according to a report from Reuters.

A statement from President Trump said: "It is the policy of the United States to rebalance global trade flows by imposing an additional ad valorem duty on all imports from all trading partners except as otherwise provided herein ... These additional ad valorem duties shall apply until such time as I determine that the underlying conditions described above are satisfied, resolved, or mitigated."