Mineral exports to the US, opportunity or challenge? - Malaj: There is a long-term message, we need to sell processed metals
The reciprocal tariffs imposed by President Trump have not left Albania untouched. However, the fact that the tariff is only 10%, unlike the rates imposed on other Balkan countries such as Serbia, Macedonia or Bosnia, could be an advantage for Albanian exports.
"In conditions where the volume is influential and can negatively affect the economy, this may result in modest benefits. But there is a long-term message: Albania has many minerals, but they are not in a closed cycle. The time has come for a new industrial policy that increases the value of our exports."
Immediately after Trump imposed 25% tariffs on steel and aluminum imported into the US from China and Mexico, our country recorded a record number of imports of these products from China, as well as a high amount exported to America.
According to data from INSTAT, exports of cast iron, steel and aluminum account for 42% of the amount going to the state across the Atlantic.
“I see this as a positive impact on the growth of Albanian exports, but value added is essential. We need to have a closed-loop economy – extract the minerals, process them and then export them. At the moment, the fact that we export raw minerals means that value added remains minimal.”
Although they are about 8 thousand kilometers away, the United States of America remains an important partner for Albania. During 2024, trade exchanges between the two countries reached 28 billion lek.
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