Egypt Daily News – Energy Prices Surge, Ahmed Mousa revealed the impact of U.S. President Donald Trump’s decision to impose tariffs on trade partners, including Egypt, where a 10% tariff will be applied.
In a post on his X account, Mousa stated, “What comes after Trump’s tariff ‘tsunami’ on various countries, including 18 Arab nations? This is a great opportunity for most countries to explore new markets outside the U.S., whether in Europe, Asia, or Africa.”
He added, “This is also a chance to expand the localization of industries and rely more on local products rather than American goods, with some countries already launching campaigns to avoid purchasing American products, as seen in Canada, for example.”
He continued, “It’s time for a greater role for the BRICS group to challenge U.S. dominance in global trade, as large tariffs are imposed on all BRICS countries except Russia, which is excluded due to U.S. sanctions and no current trade between the two.”
Mousa further commented, “It’s time for greater collaboration between the Arab world, Europe, China, India, South Korea, and Japan to face Trump’s earthquake.
There will be a significant impact on the Arab region, even though we import more from America than we export to it. Energy prices will be affected, and inflation will rise by at least 10-20%, which will particularly affect consumers in general and lower-income citizens specifically.”
