*Egypt has been left comparatively unscathed by US President Donald Trump’s new tariffs, for now. A 10% tariff on imports from Egypt is relatively mild compared to many fellow Mena countries with Syria facing a 41% tariff, Iraq a 39% tariff and Libya a 31% tariff.

*Financial market analysts BMI forecast in a 3 April note that “the US tariff announcement made on April 2 will create a significant negative economic shock to economies across MENA.” The immediate fallout saw the Egyptian pound slip further against the dollar, dropping from $1=E£50.6 for March, passing the E£51 mark following Trump’s 2 April announcement. (CONTINUED - 836 WORDS)

Read this article for free

Gain access to over 60-years of energy analysis and news