Brunei’s Response to the U.S. Reciprocal Tariffs
As a part of the proposed reciprocal tariffs that the U.S. Government is to impose on American importers of goods made in foreign nations, Brunei was pegged with a 24 per cent reciprocal tariff on its exports to the United States. During the 90-day pause period, Brunei’s Ministry of Finance and Economy is having technical discussions with U.S. counterparts to negotiate the rate that will go into effect in July. The U.S. Government claims that the Government of Brunei charges its importers the equivalent of a 47 percent import tax – including currency manipulation and non-tariff barriers – on U.S. exports to Brunei. Brunei’s trade deficit with the U.S. sits around USD46.5 million, with Brunei’s exports to the U.S. standing at USD185.7 million. Major exports include chemicals, mineral fuels, machinery, transport equipment, and miscellaneous manufactured articles.
At the 34th Meeting of the ASEAN Directors-General of Customs, the Government of Brunei’s Deputy Minister of Finance and Economy, Pengiran Zety Sufina Pengiran Sani, emphasized the importance of ASEAN’s unity. ASEAN government customs administrations will play critical roles in supporting trade flows and economic resilience in this current climate. The Deputy Minister called for openness, fairness, and mutual respect in international trade. The Ministry assessed the potential impacts of tariffs on Brunei’s exports to the US and continues to engage with the affected exporters.
The incoming chair, acting comptroller of the Royal Customs and Exercise Department (RCED) Muhammad Azizil Hakim bin Haji Brahim, emphasized the importance of advancing Customs modernization and collaboration to achieve the objectives of the ASEAN Community Vision 2025. He highlighted the progress made in digital transformation and trade facilitation under the Strategic Plan on Customs Development and outlined forthcoming initiatives for 2026-2030. All these initiatives aim to diversify Brunei’s economic portfolio, not the least of which with U.S. firms now affected by tariffs.
