US tariffs not expected to directly affect Maldives, Saeed says
Saeed also clarified that tourism, the Maldives' key economic sector, is not expected to be affected by the US tariff policy.
The United States' revised tariff policy, which includes a 10 percent tariff on imports from all countries and higher rates for selected goods, is not expected to have a direct impact on the Maldives, Economic Minister Mohamed Saeed said on Monday.
The US announced the new tariff rates as part of a policy aimed at supporting domestic production. While these changes mark a shift in trade strategy, Saeed stated that the Maldivian economy is unlikely to face immediate effects.
Saeed explained that the Maldives primarily exports fish and fish products to the United States, which are already subject to a 10 percent tariff.
“The baseline tariff for the Maldives is currently 10 percent. Our fish and fish product exports to the United States are already covered under this rate. Some of our competitors appear to face higher tariffs than we do,” Saeed said during a press conference.
He added that, based on current information, there does not appear to be any direct loss resulting from the US tariff revisions.
The minister noted that work is ongoing to identify additional export markets for Maldivian fish products.
However, Saeed acknowledged that broader policy decisions by large economies, including changes in tariff structures, can influence the global supply chain.
“Experts have noted that such developments may lead to an increase in commodity prices and could potentially slow down global economic activity,” he said.
Saeed also clarified that tourism, the Maldives' key economic sector, is not expected to be affected by the US tariff policy.
