A new ESCWA brief warns that new U.S. tariffs threaten $22 billion in Arab non-oil exports, with Morocco, Egypt, Jordan, and Tunisia facing $114 million in additional sovereign interest payments in 2025. Moroccan exports, however, may benefit from shifting U.S. trade dynamics, gaining ground as Chinese and Indian goods face higher tariffs.
President Trump announced a 10% baseline tariff on imports to the U.S., which could further impact the already imbalanced trade between Morocco and the U.S. In 2024, the U.S. trade surplus with Morocco reached $3.4 billion, a significant increase from $35 million in 2005, one year after the signing of a Free Trade Agreement.
President Donald Trump announced new global reciprocal tariffs, imposing a 10% duty on Moroccan goods. Despite the U.S.-Morocco Free Trade Agreement, this measure could impact key sectors like agro-food and textiles.
Spanish exports to Morocco have steadily increased over the past five years, with a record high in 2024, while Morocco also remains a key supplier to Spain. Both countries continue to deepen their economic ties, with Spain being Morocco's largest EU trade partner and significant investor, and Morocco growing as a supplier and client in Spain's global trade.