SKOPJE, North Macedonia (AP) — North Macedonia announced plans Monday to abolish all import taxes on the United States in the hope of reaching a reciprocal zero-tariff deal with the Trump administration. The plan still requires parliamentary approval and was put forward after the Balkan country was hit with a 33% tariff from the United […]
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North Macedonia announces plan to take tariffs on US goods to zero in hopes of reciprocation
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SKOPJE, North Macedonia (AP) — North Macedonia announced plans Monday to abolish all import taxes on the United States in the hope of reaching a reciprocal zero-tariff deal with the Trump administration.
The plan still requires parliamentary approval and was put forward after the Balkan country was hit with a 33% tariff from the United States — considerably higher than the 20% imposed on the European Union.
“By unilaterally reducing customs rates, we are sending a message to accelerate the process of reciprocity in a mutual trade exchange,” Finance Minister Gordana Dimitrieska Kochoska told reporters.
The trade volume between the two countries was just $314 million last year while U.S. imports totaled $196 million, according to government figures.
Foreign Minister Timcho Mucunski said he discussed the possibility of a free-trade agreement with the U.S. at a meeting in Washington last week with Secretary of State Marco Rubio.
North Macedonia’s plan is part of a wider effort to try and stimulate its economy and would include other tariff reductions.