WASHINGTON – The United States and North Macedonia have agreed to a Framework for an Agreement on Reciprocal, Fair, and Balanced Trade, the White House stated on 12 February.
“The Agreement will strengthen our trade relationship, support shared strategic interests, promote economic growth, and deepen our transatlantic partnership”, the statement reads.
According to the statement, North Macedonia will eliminate customs duties for all US industrial and agricultural goods. On the other hand, the United States will maintain at 15 per cent the reciprocal tariffs, but will also identify products to receive a zero per cent reciprocal tariff rate.
The two countries also noted their intention to facilitate and enhance commercial ties.
The statement also says that North Macedonia will commence the purchase of US liquefied natural gas upon completion of the new gas interconnector.
The framework addresses other economic issues between the two countries as well.
Ambassador Jamieson Greer, the United States Trade Representative, said after the announcement of the framework agreement that “President Trump’s trade agenda is deepening our transatlantic ties with a key partner in the Balkan region”.
In a Facebook post, Foreign Minister of North Macedonia Timčo Mucunski described the agreement as an important and significant step forward in economic cooperation with the United States, of great importance to the Macedonian economy and one from which Macedonian companies will benefit.
“It is important to be precise: the US will retain a reciprocal tariff of 15 percent on products originating from our country, while at the same time – and this is the essence of the success – products will be identified that will have up to zero percent reciprocal tariffs. In other words, for some key industries and products, tariffs will be reduced to zero,” Mucunski said, Radio Free Europe reports.
