Investment officer: Tariffs won’t impact Saudi Arabia

AlArabiya English

The Chief Investment Officer of the Saudi Arabia Holding Co. Ali Raza says Trump’s tariffs won’t affect the Kingdom much as only 5 percent of exports go to the US, and crude oil is exempt. #SaudiArabia #TrumpTariffs

Transcript

00:00Ali, I just wanted to talk to you a bit more about these tariffs.

00:04You know, we've got baseline tariffs imposed on all countries around the world at 10%.

00:08What's the direct impact, do you think, of those tariffs on the Saudi economy specifically?

00:13Well, Tom, first of all, we've all seen this movie before.

00:17There's been many instances of tariffs, embargoes, and other economic fluctuations.

00:22So that's the first point.

00:23The direct impacts are very minimal to Saudi Arabia

00:25because the reality is that only around 5% of the exports from Saudi Arabia go to the US.

00:32In fact, Asian nations are the greatest trade partners.

00:36Now, from that 5%, a large percentage is actually crude oil, which is exempt from the tariffs.

00:43So the direct impact is quite limited,

00:46but this is not to say that there are risks that we don't need to be conscious of.

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