US Commerce Secretary Howard Lutnick holds a chart as President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. - Photo: AP
BANDAR SERI BEGAWAN: The United States has announced a 24 per cent reciprocal tariff on exports from Brunei Darussalam as part of a sweeping tariff policy unveiled by President Donald Trump.
The move follows the president’s executive order imposing new tariff rates on multiple countries, including a baseline 10 per cent tariff on all imports.
According to the list of new tariffs released by the White House and held up by President Trump during a press conference, Brunei charges 47 per cent—including currency manipulation and trade barriers—on US exports to the Sultanate.
The US has now responded with a 24 per cent tariff on Brunei’s exports.
Speaking at the White House on Wednesday, President Trump said, “I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal means they do it to us, and we do it to them—very simple, can’t get any simpler than that.”
He added that the new tariffs would help revive domestic industries, open foreign markets, and lower prices through increased local production.
The United States’ key trading partners facing higher tariffs include the European Union (20 per cent), China (54 per cent), Vietnam (46 per cent), Thailand (36 per cent), Japan (24 per cent), and Cambodia (49 per cent).
Reports from the US indicate that the 10 per cent minimum tariff will take effect on April 5, while the higher reciprocal tariffs will begin on April 9.
Additionally, a 25 per cent tariff on all foreign-made automobiles will be enforced from midnight on the same day.
According to the Office of the US Trade Representative, US goods trade with Brunei was estimated at USD366 million in 2024.
US exports to Brunei amounted to USD 127.2 million, reflecting a 10.1 per cent decrease from 2023, while imports from Brunei totaled USD238.8 million, down 6.4 per cent from the previous year. - Borneo Bulletin/ANN
