Egypt Today: Egypt and the United States are on the verge of signing a bilateral agreement aimed at regulating customs procedures between the two nations. The announcement was made during the Egypt-U.S. Economic Forum held today in Cairo, where senior officials from both governments confirmed that negotiations have reached an advanced and final stage.

Prime Minister Mostafa Madbouly stated that the agreement is expected to come into effect soon, noting its strategic significance in streamlining trade operations and improving the clarity and efficiency of customs handling between Egypt and the U.S.

Echoing this, U.S. Ambassador Herro Mustafa Garg confirmed that both sides are preparing to sign the agreement shortly, calling it a milestone in enhancing bilateral economic collaboration.

This development follows trade tensions in April of last year, when former U.S. President Donald Trump imposed a ten percent tariff on Egyptian exports as part of a broader initiative dubbed “Liberation Day,” which included duties on several of the United States’ key trading partners. However, those tariffs were suspended for 90 days following intense global negotiations.

According to data from Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS), total bilateral trade between Egypt and the U.S. reached nearly $9.8 billion in the past year—representing a thirty-seven point four percent increase over the previous year.

Egypt’s exports to the U.S. stood at approximately $2.2 billion, while imports from the U.S. totaled $7.6 billion, underscoring a significant trade imbalance. The new customs agreement is seen as a vital step toward improving the terms of trade, promoting smoother logistics, and encouraging more balanced economic ties between the two countries.

https://www.egypttoday.com/Article/3/140385/Egypt-U-S-Finalize-Customs-Agreement-Amid-Growing-Trade-Ties