Trump tariffs to have limited impact on Egypt: Standard Chartered

Speaking to Ahram Online on the sidelines of a conference organized by the bank in Cairo to launch its global and regional economic outlook, Carla Slim, an economist at Standard Chartered MENA, noted that the recent US tariffs are unlikely to significantly affect trade between Egypt and the US, given that the US maintains a trade surplus with Egypt.

"Egypt's geographic location, particularly its control over the Suez Canal, plays a crucial role in global trade dynamics," Slim said. "We predict that the canal may see increased traffic despite ongoing tensions in the Red Sea, driven by a rise in South-South trade, which refers to economic exchanges between emerging markets." 

Mohamed Gad, CEO of Standard Chartered in Egypt, told Ahram Online that the evolving tariff landscape presents an opportunity for Egypt to position itself as a global trade hub, particularly for Asian economies, thanks to its infrastructure and relatively low operating costs.