United States President Donald Trump signed an executive order on July 7 extending certain tariff rates until Aug. 1. Under the order, Kazakhstan will face a new 25% reciprocal tariff.
The same tariff would apply to Japan, Malaysia, South Korea, and Tunisia. Higher rates would apply to other countries, with 30% on South Africa and Bosnia and Herzegovina, rising to 32% for Indonesia, 35% for Serbia and Bangladesh, 36% for Cambodia and Thailand, and peaking at 40% for Laos and Myanmar.
Trump sent letters to Kazakhstan and other nations informing them of their new tariff rates, which will take effect on Aug. 1, he announced on the Truth Social platform. The decision was made based on recommendations from senior officials and ongoing trade negotiations.
The move follows recent trade actions aimed at correcting what the U.S. administration calls “many years of unsustainable trade deficits that threaten the economy and national security.”
In a July 8 statement, the Kazakh Ministry of Trade and Integration stated the majority of Kazakhstan’s exports will continue to be supplied without new tariffs, as they are exempt from the newly introduced duties. This exemption covers key raw materials and strategic goods, including oil, uranium, silver, ferroalloys, tantalum, and titanium.
According to estimates, the measures will not affect around 95% of Kazakhstan’s exports to the U.S.
“As part of efforts to maintain a predictable trade regime for Kazakh goods, the government of Kazakhstan has submitted concrete proposals and initiatives to the White House aimed at improving the conditions for mutual trade. Kazakhstan’s goal is to reach mutually agreed solutions on market access and trade terms,” reads the statement of the Kazakh ministry.
“The U.S. side is currently reviewing Kazakhstan’s proposals and will inform of the date for negotiations. Kazakhstan is preparing for further talks with the U.S. to protect its national interests and promote a stable and sustainable trade and economic partnership,” it added.
Since modifying tariff rates 90 days ago, the U.S. reports that many countries have agreed to or offered reductions in tariffs and the removal of trade barriers. However, the administration emphasized that the U.S. trade deficit remains “severe.”
The new reciprocal tariffs are intended to create fairer bilateral trade relationships and restore what Trump described as “America’s economic sovereignty.”
Kazakhstan is among the countries receiving revised rates, with its tariff lowered from 27% to 25%. Other countries may see higher or lower adjustments compared to the initial April 2 announcements.
In 2024, trade turnover between Kazakhstan and the U.S. reached $4.2 billion, a 4% increase compared to the previous year’s $4.1 billion. From January to May, trade turnover between the two countries hit $1.27 billion, with Kazakh exports to the U.S. totaling $418.2 million during the same period.
Crude oil accounts for 56.2% of Kazakh exports to the U.S in 2024. Other key exports include uranium ($322.9 million), silver ($239.9 million), ferroalloys ($188.2 million), and tantalum and tantalum products ($17.6 million), among others.
Source: The Astana Times
