US President, Donald Trump imposes 10% tariffs in Ghana and over 180 nations, sparking fears of trade tensions and economic shifts.
The United States will now impose a 10% baseline tariff on nearly all imports, including those from Ghana, as part of President Donald Trump’s new trade policy aimed at countering foreign trade practices.
The announcement, which signals a major shift in global trade dynamics, will require U.S. importers to pay additional charges on goods from over 180 countries that do not have specific trade agreements with the U.S. This move could have far-reaching consequences for Ghana’s exports to the American market.
Trump, who has referred to the policy as “kind,” argues that the tariffs are necessary to protect American businesses from foreign competition, retaliate against high tariffs imposed on U.S. goods by other nations, and curb currency manipulation.
Impact on Ghana and Africa
Ghana, along with other African nations like South Africa, Nigeria, and Kenya, could see increased costs on exports such as cocoa, textiles, and raw materials destined for the U.S. market. The move is expected to disrupt trade relations between the U.S. and African economies, which have historically benefited from more open trade policies.
Critics warn that the tariffs could lead to higher consumer prices, economic instability, and strained diplomatic relations between the U.S. and affected countries. Many governments are now considering retaliatory tariffs, potentially triggering a global trade war.
Trump has framed the tariff implementation as “Liberation Day”, claiming it will restore fairness to U.S. trade and boost domestic job growth. However, the global economic impact remains uncertain, as experts caution that these tariffs could hurt both U.S. importers and exporting nations like Ghana.
Source:3news