CBA Chairman: Uncertain impact of US tariff policy on Azerbaijan
The Chairman of the Central Bank of Azerbaijan, Taleh Kazimov, recently addressed the impact of the US tariff policy on Azerbaijan at a press conference. Kazimov stated that it is too early to accurately assess the effects of the tariffs on Azerbaijan, as the country’s trade volume with the US is not significant.
Although tariffs have increased by approximately 10%, Kazimov believes that the indirect impact on Azerbaijan may not be substantial. He mentioned that some European and Asian countries are already looking for new markets due to high tariffs, which could potentially lead to increased supply and reduced prices.
Kazimov also expressed his belief that the tariff war may not result in a sharp increase in prices in Azerbaijan. He stated that the Central Bank does not expect a significant impact, but additional research and time are necessary to determine the full extent of the effects.
Furthermore, Kazimov highlighted the importance of considering which products the US is applying higher tariffs to. He suggested that Azerbaijani manufacturers could potentially increase their export volumes by offering products that meet the new tariff requirements.
Overall, Taleh Kazimov’s remarks indicate a cautious approach to assessing the impact of the US tariff policy on Azerbaijan, emphasizing the need for further research and observation before drawing any concrete conclusions.
