CBA Chairman: Too early to assess impact of US tariff policy on Azerbaijan

It is too early to assess the impact of the US tariff policy on Azerbaijan, Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, said at a press conference, according to Report.

The chairman noted that Azerbaijan’s trade volume with the US is not that large and tariffs have increased by approximately 10%: "There may be an indirect impact, but more time is needed to fully assess this impact. A number of European and Asian countries are already focusing on new markets due to high tariffs, which may lead to increased supply and reduced prices."

Kazimov believes that overall, it cannot be said that the tariff war will cause a sharp increase in prices in Azerbaijan: "According to the CBA's position, such an impact is not expected. Additional research and time are required to determine the exact extent of the effect."

He emphasized that it is important to consider which products the US applies higher tariffs to: "Azerbaijani manufacturers can increase their export volumes by offering products of the same name that meet the new requirements."