Tariff Fallout: Iran Sanctions, Inflation Risks, and The Bank of Japan Responses

ប្រធានាធិបតី ដូណាល់ ត្រាំ បានគំរាមកំហែងទៅលើប្រទេសដែលទិញប្រេងពីអុីរ៉ង់ ដោយលើកឡើងថា “អ្នកណាទិញប្រេងពីអុីរ៉ង់នឹងមិនត្រូវបានអនុញ្ញាតឱ្យធ្វើជំនួញជាមួយសហរដ្ឋអាមេរិកទេ” ។ ហើយ​នោះ​បាន​កើត​ឡើង​បន្ទាប់​ពី​ការដាក់ពន្ធប្រេងទៅ​លើ​ប្រទេស​វ៉េណេស៊ុយអេឡា និង​សមាជិក​អង្គការ OPEC ផ្សេង​ទៀត​នៅ​ដើម​ខែ​មេសា។ 

គោលដៅរបស់លោកគឺ បន្ទាបទៅលើការនាំចេញប្រេងរបស់អុីរ៉ង់ ដែលជាប្រភពចំណូលយ៉ាងសំខាន់របស់ពួកគេ ក្នុងគោលបំណងកាត់បន្ថយមូលនិធិដល់កម្មវិធីអភិវឌ្ឍន៍នុយក្លេអ៊ែរ និងសកម្មភាពផ្សេងៗទៀត។ ជាក់ស្តែង លោក Trump បានដាក់សម្ពាធប្រឆាំងនឹងប្រទេសអុីរ៉ង់តាំងពីខែកុម្ភៈ ហើយបានបន្តការចរចាលើកម្មវិធីនុយក្លេអ៊ែរកាលពីខែមុន។ 

ទោះបីជាយើងមិនទាន់ច្បាស់ថាតើវានឹងទៅជាយ៉ាងណាក៏ដោយ ប៉ុន្តែរឿងមួយគឺប្រាកដណាស់៖ វាក៏នឹងនាំឱ្យមានការកើនឡើងនៃភាពតានតឹងជាមួយដៃគូពាណិជ្ជកម្មដ៏សំខាន់របស់អុីរ៉ង់ដូចជាប្រទេសចិនជាដើម ដែលនឹងធ្វើឱ្យទំនាក់ទំនងរវាងសហរដ្ឋអាមេរិក និងចិនកាន់តែពិបាក។ 

លើសពីនេះ ទាំងក្រុមហ៊ុន Anderson Economic Group ដែលមានមូលដ្ឋាននៅរដ្ឋ Michigan និងអតីតរដ្ឋមន្ត្រីរតនាគារ Yellen បានព្រមានថា សេដ្ឋកិច្ចអាមេរិកអាចបន្តប្រឈមមុខនឹង “ផលប៉ះពាល់អវិជ្ជមាន” ពីពន្ធគយនេះ។ ជាក់ស្តែង ទិន្នន័យថ្មីៗនេះមានការគាំទ្រយ៉ាងខ្លាំងចំពោះការកើនឡើងហានិភ័យនៃអតិផរណា ខណៈពេលដែលកំណើនសេដ្ឋកិច្ចយឺតគឺអាចនឹងកើតមានក្នុងរយៈពេលដ៏ខ្លីខាងមុខនេះ។ 

ទន្ទឹមនឹងនេះ ធនាគារកណ្តាលជប៉ុន (BOJ) លោក Ueda ក៏បានកត់សម្គាល់ផងដែរថា ការផ្លាស់ប្តូរពន្ធនឹងធ្វើឱ្យប៉ះពាល់ដល់គោលនយោបាយរូបិយវត្ថុរបស់ប្រទេសជប៉ុនយ៉ាងខ្លាំង។ ប្រសិនបើពន្ធធ្លាក់ចុះដល់កម្រិតទាប ឬសូន្យ យើងទំនងជាឃើញការដំឡើងអត្រាការប្រាក់លឿនជាងមុនពីពួកគេ។ រហូតមកដល់ពេលនេះ  ធនាគារកណ្តាលជប៉ុន (BOJ) នៅតែមិនច្បាស់ថាតើពួកគេត្រូវផ្លាស់ប្តូរអត្រាការប្រាក់ដោយពឹងផ្អែកលើស្ថានភាពសេដ្ឋកិច្ច ឬអត្រាអតិផរណា។

|English Version|

President Donald Trump imposed secondary sanctions on Iranian oil purchases and threatened that “Whoever takes oil from Iran won’t be allowed to do business with the US.” And that came after secondary oil tariffs on Venezuela and other OPEC members in early April. 

The goal is to drive Iran’s oil exports as a major revenue source to zero, which could limit Iran’s ability to fund its nuclear development program and other activities. In fact, Trump has been putting maximum pressure against Iran since February and continued to negotiate over the nuclear program last month. 

Although we are unsure how this will turn out, one thing is certain: It would also lead to an escalation of tension with Iran’s major trading partner—China, which would strain relations between the US and China. 

Furthermore, both Michigan-based Anderson Economic Group and Ex Treasury Secretary Yellen have warned that the US economy could continue to face an “adverse impact” from tariffs. As a matter of fact, recent data are very supportive of rising more of inflation risk while slower economic growth is very likely in the near term. 

Meanwhile, the Bank of Japan (BOJ) Ueda also noted that tariff changes would greatly sway Japan’s monetary policies. If the tariff drops to a low level or zero, we are likely to see a quicker rate hike from them. As of now, the BOJ is still uncertain whether to prioritize the economic outlook or inflation.

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