00:00Thank you for joining us on Medihan, and welcome to this new bulletin of Economic News.
00:13American customs rights are at the forefront of our edition this Friday.
00:18Morocco is among the least impacted nations, with a 10% rate applied to its exports to the United States.
00:25As well as other trade partners such as Saudi Arabia, the United Kingdom and Turkey.
00:31However, higher rights have been imposed on other countries, including 30% for Algeria and 28% for Tunisia.
00:39The European Union and China are also concerned with respective taxes of 20 and 34% on their exports to the American market.
00:49Morocco and the United States have been linked by a free trade agreement since 2006, which has helped to boost their trade.
00:58By the end of 2022, Moroccan expeditions to the United States have reached 16.3 billion dirhams, or $1.76 billion,
01:07with the mineral and chemical fertilizers at the forefront, with a volume of 3.35 billion dirhams, or 20.8% of exports.
01:17Note that the 10% generalized tax will be in force on April 5, and customs rights will be in force on April 9.
01:28At the beginning of our edition today, the International Monetary Fund has also approved a new 4.5 billion dollar flexible credit line agreement for two years for Morocco.
01:40The institution specified in a statement that in a very uncertain environment, the agreement will strengthen Morocco's external reserves and provide insurance against the risks of a decrease.
01:52According to the same statement, the authorities intend to consider the new agreement as a precautionary measure.
02:00And then Morocco approved a very ambitious program to increase the capacity of Morocco's airports to 30 million to 80 million passengers by 2030.
02:13These are the words of Minister of Transport and Logistics Abdelsamad Riyouh, who indicates that this project is part of the preparations for the 2030 World Cup.
02:24With indicators open in 2024, the National Airport Office is looking at positive performance this year.
02:31Passenger traffic should thus continue its dynamic with an increase of 15 to 37.6 million passengers, according to the indicators revealed during the administration board meeting.
02:46Back on American Customs' new rights, the main partners of the United States are calling for dialogue.
02:54Beijing has said it will maintain communication on trade and the economy, while exhorting Washington to immediately cancel its punitive customs taxes and promising to repost.
03:05The President of the European Commission Ursula von der Leyen assured that it was not too late to negotiate, but also said that the European Union was ready to react.
03:15The White House's offensive as a protectionist judge, which has been unequivocal since the 1930s, goes through a 10% customs law on all imports from April 5.
03:29Majorities are expected to start on April 9 for particularly hostile countries in terms of trade.
03:37Still on the subject of American customs rights, Stellantis has announced the closure for two weeks of its Chrysler plant in Canada and is considering postponing production in its Mexican factories,
03:52in particular because of the application of heavy customs rights on vehicles imported from the United States.
03:58The fifth global manufacturer will close its Canadian plant in Windsor, Ontario, which employs about 4,000 employees during the weeks of April 7 and 14.
04:09The Stellantis Group has indicated that it will continue to evaluate the effects of American customs rights on imported vehicles and will continue to discuss with the US administration these changes in policy.
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