Ghana’s Importers and Exporters Association Slams U.S. 10% Tariff Hike
The Importers and Exporters Association of Ghana has strongly criticized the United States for imposing a 10% tariff hike on imports from Ghana. Describing the move as a violation of global trade norms and a threat to Ghana’s economic stability, the association expressed deep concerns over the decision made by the US government under President Donald J. Trump. The association’s executive secretary, Samson Asaki Awingobit, highlighted that the tariff hike disregards the protocols and principles of the World Trade Organization (WTO), stating, “the decision represents a blatant disregard for the WTO protocols and must be strongly condemned.”
This unilateral action by the US has raised alarm within the Ghanaian business community, particularly those engaged in exports to the US market. The Importers and Exporters Association outlined several major concerns, including a decline in export competitiveness, potential job losses leading to increased inequality, financial instability, a worsening trade deficit, and the risk of slower economic growth for Ghana.
In response to these challenges, the association has called upon key stakeholders in the trade industry, the Ministry of Agribusiness, and the Ministry of Foreign Affairs & Regional Integration to initiate high-level discussions to comprehensively assess the implications of the US trade/tariff policy decision.
Additionally, they have urged the Ghanaian government to pursue diplomatic channels to engage with the US, seeking a reversal of the policy and the implementation of support measures for affected businesses.
It is crucial for Ghana to address these pressing issues through collaborative efforts and diplomatic dialogue to safeguard its economic interests and ensure a stable business environment amidst the changing global trade landscape.
