Business players in Ghana have expressed satisfaction with the decision by U.S. President Donald Trump to suspend the 10% tariff on all exports to the United States.
The move follows growing concern over steep tariffs imposed on many of the U.S.’s trading partners, which have sparked volatility in global financial markets. Ghana was among the countries affected by the tariff, which disrupted trade and export activities.
The 10% levy, unilaterally introduced by President Trump, targeted imports from around the world, including key Ghanaian exports such as garments, textiles, cashew, shea butter, fruits, vegetables, yam, and cocoa products.
Speaking to Citi Business News, Head of the Business and Economic Bureau at the Ghana Union of Traders Association (GUTA), Charles Kusi Appiah, welcomed the decision.
“When he (Donald Trump) has realized that he is biting more than he can chew and he wants to hold on, hallelujah. But of course it shouldn’t end there,” he said.
He further emphasized the need for African nations to strengthen intra-continental trade.
“So it’s a wake-up call to us to start putting our house together, looking at how we can create market on our African continent,” he added.