North Macedonia announces plan to take tariffs on US goods to zero in hopes of reciprocation
North Macedonia has announced plans to abolish all import taxes on the United States in the hope of reaching a reciprocal zero-tariff deal with the Trump administration
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.