US President, Donald Trump
The Importers and Exporters Association of Ghana has expressed deep concern over the recent 10% tariff increase imposed by the United States on imports from Ghana, describing the decision as a violation of global trade norms and a threat to the country’s economic stability.
In a strongly worded statement released by the association’s Executive Secretary, Samson Asaki Awingobit, the group accused the U.S. government, under President Donald Trump, of disregarding the protocols and principles upheld by the World Trade Organization (WTO).
“This decision represents a blatant disregard for WTO protocols and must be strongly condemned,” the statement read.
The association warned that the new tariff policy could have serious implications for Ghana’s economy, especially for businesses involved in exports to the U.S. market.
Among the major concerns raised were the following:
• Decline in Export Competitiveness: The higher tariffs are expected to make Ghanaian goods less attractive in the U.S. market, potentially reducing demand and revenue for exporters.
• Job Losses and Increased Inequality: A drop in export activity could force companies to downsize, leading to job cuts and widening income inequality.
• Financial Instability: The association fears that declining exports could create economic uncertainty, possibly triggering an increase in interest rates as banks adjust to market pressures.
• Worsening Trade Deficit: With exports likely to fall and imports remaining steady, Ghana’s trade balance could suffer, exacerbating the national economic outlook.
• Slower Economic Growth: The cumulative effects of these challenges could significantly impact Ghana’s GDP growth and long-term development goals.
The association has however called on the Ministry of Trade and Industry, the Ministry of Agribusiness, and the Ministry of Foreign Affairs and Regional Integration to immediately engage stakeholders in high-level discussions to assess the full implications of the U.S. decision.
It also urged the Ghanaian government to consider diplomatic engagement with the United States to appeal for a reversal of the policy and to implement support mechanisms for affected businesses.
MA