(Bandar Seri Begawan, 4th) Following the recent announcement by the United States to impose a universal tariff of 10% on all imported products and a reciprocal tariff of 24% on Bruneian exports to the US, the Ministry of Finance and Economy (MOFE) will engage with American counterparts to seek clarification and better understand the new US tariff system.
At the same time, the Ministry of Finance is assessing the potential impact of the tariff system on Brunei's exports to the US and will continue to liaise with affected exporters.
In 2024, the total trade between Brunei and the United States amounted to 537.1 million Brunei dollars, with Brunei's exports amounting to 238.7 million Brunei dollars and Brunei's imports from the US amounting to 298.4 million Brunei dollars.
Brunei's main exports to the US include chemicals, mineral fuels, machinery, and transport equipment, while our main imports are machinery and transport equipment, miscellaneous manufactured articles, and chemicals.
At the same time, the Ministry of Finance is assessing the potential impact of the tariff system on Brunei's exports to the US and will continue to liaise with affected exporters.
In 2024, the total trade between Brunei and the United States amounted to 537.1 million Brunei dollars, with Brunei's exports amounting to 238.7 million Brunei dollars and Brunei's imports from the US amounting to 298.4 million Brunei dollars.
Brunei's main exports to the US include chemicals, mineral fuels, machinery, and transport equipment, while our main imports are machinery and transport equipment, miscellaneous manufactured articles, and chemicals.