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 on Wednesday a new global policy imposing a 10% baseline tariff on imports to the U.S. Morocco will be subject to this 10% tariff, which serves as the standard rate, although some countries may face rates as high as 50%. While the primary targets of this policy are China, the European Union, and Canada, it could also affect Morocco's trade with the U.S., which is already facing a series of trade imbalances. US trade surplus Morocco and the United States signed a Free Trade Agreement on June 15, 2004, which entered into force on January 1, 2006, boosting trade between the two countries. Since then, total bilateral trade has grown from $1.3 billion in 2006 to $7.2 billion in 2024. However, U.S. exports to Morocco remain significantly higher than Morocco's exports to the U.S. According to the Office of the United States Trade Representative (USTR), the U.S. goods trade surplus with Morocco increased to $3.4 billion in 2024, up from just $35 million in 2005, the year before the agreement took effect, and an increase of 57.1% ($1.2 billion) over 2023. In details, U.S. goods exports to Morocco in 2024 amounted to $5.3 billion, a 37.3% increase from the previous year. In contrast, U.S. imports from Morocco were $1.9 billion, up 12.3% from 2023. In 2023, the United States exported $3.8 billion to Morocco, while Morocco exported only $1.7 billion to the U.S. The top U.S. exports to Morocco in that year were Petroleum Gas ($1.73 billion), Coal Briquettes ($1 billion), and Aircraft Parts ($856 million). On the other hand, Morocco's main exports to the U.S. included Semiconductor Devices ($222 million), Motor Vehicles and Parts ($152 million), and Mixed Mineral or Chemical Fertilizers ($117 million). A growing gap The gap between U.S. and Moroccan exports continues to widen even through this year. In January 2025, the U.S. exported $490 million to Morocco and imported just $135 million, resulting in a trade surplus of $355 million. In terms of specific trade items in January 2025, leading U.S. exports to Morocco included Petroleum Gas ($62.2 million), Coal Briquettes ($55.1 million), Aircraft Parts ($50.6 million), Soybean Meal ($32.8 million), and Refined Petroleum ($24.1 million). On the import side, the top U.S. imports from Morocco were Citrus ($24.3 million), Motor Vehicles and Parts ($15 million), Semiconductor Devices ($13.1 million), Phosphatic Fertilizers ($10.7 million), and Processed Fish ($10.2 million). The ongoing trade imbalance between Morocco and the U.S. has been seen as a hindrance to the full potential of the Free Trade Agreement between the two countries. In an analysis of the U.S.-Morocco FTA after twenty years, the Washington Institute for Near East Policy noted that Morocco's trade deficit with the United States was $316 million 2006 but had increased by around $1.8 billion by 2023 to get to $2.1 billion. The new decision by the Trump administration could further complicate the U.S.-Morocco Free Trade Agreement, particularly considering Morocco's ongoing trade deficit. Article modifié le 03/04/2025 à 23h41
