Trump imposes 10% tariff on Armenian goods

PanARMENIAN.Net - President Donald Trump imposes a 10% tariff on imports from Armenia, affecting key export sectors like metals, agriculture, and alcohol.

Armenian goods will soon face new trade restrictions in the United States market, starting April 5.

U.S. President Donald Trump has imposed a 10% tariff on imports from Armenia. Political analyst Suren Sargsyan shared the news on his Facebook page, stating this will lead to price hikes for Armenian products in the U.S. market, impacting their competitiveness.

“Armenia has not been spared from Trump’s trade war—almost every country is now included in the new tariff list. However, there are exceptions, such as Russia. Trump has announced that a universal 10% import tariff will take effect in the U.S. on April 5,” he wrote.

The tariffs are part of Trump’s Reciprocal Tariffs policy, under which the U.S. imposes similar levels of duties on countries that restrict access to their own markets for American goods.

“This will result in higher prices for Armenian products in the U.S., reducing their competitiveness. Certain key sectors may suffer from falling demand, particularly exports of aluminum, stone, precious metals, agricultural goods, and alcoholic beverages,” Sargsyan added.

He also cited Armenian-American trade data for 2024. The total trade volume reached $282.4 million. The U.S. exported $160.8 million worth of goods to Armenia, a 14.8% drop from 2023, or $27.9 million less. Imports from Armenia totaled $121.6 million, down 8.4% or $11.1 million compared to the previous year.

As a result, the U.S. trade surplus with Armenia stood at $39.2 million, down 29.9% or $16.7 million from 2023.

Trump has signed a sweeping tariff order, declaring an economic state of emergency and applying at least a 10% tariff on imports from all countries. For 60 countries or trade blocs with significant trade deficits with the U.S., the tariffs are higher. Auto import tariffs are already in effect, according to CNN.

China, the second-largest exporter to the U.S. after Mexico, will be hit the hardest with a 54% tariff and has threatened retaliatory measures. Canada and the European Union—also major U.S. trade partners—are preparing countermeasures.

These announcements have triggered sharp declines in global stock markets. U.S. markets dropped in after-hours trading, and Asian markets responded similarly. Gold prices reached historic highs as investors shifted to safer assets. Leading economists told CNN the tariffs could push the global economy toward recession.