The Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit, says the imposition of a 10% tariff on imports by the United States is a significant setback for Ghanaian exporters.
He argued that this latest development will not only have a negative impact on exporters but also on the business community and the Ghanaian economy.
Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5FM, he warned this could lead to massive job losses.
He admonished the government to provide a solution in addressing the negative effects this would have on the Ghanaian economy.
“The imposition of the tariff will not affect only exporters, but it will also have a negative or serious impact on the Ghanaian economy because when you export, the government of Ghana expects that the proceeds will come back to Ghana through our banks. But because of this imposition, that kind of forex that should have been coming in the name of the exporter will no longer come.
There are going to be job losses because you can no longer export to America due to the tariff imposition; it becomes a challenge. It will also have an impact on our cedi,” he explained.
He stated that comparing Ghana to America, we import more from the US market than they import from us, and yet, the US president failed to consider that.
“Already, Ghana, as a country, we are not doing much exportation. Since last year, there was an importation of $1.2 billion, meaning we imported over $500 million worth of goods from the US, including frozen chicken, car parts and a lot of things. So comparing the US to Ghana, our exports to the US and their exports to the Ghanaian market, they have impacted us more. We have imported ore from them, and yet, Donald Trump decided not to respect that but impose a new tariff on us.”
He is therefore looking forward to the government dealing with the matter, considering our bilateral relation with the US.
The way forward, he noted, should be for Ghana to look for a new market through the African Continental Free Trade Area, reposition ourselves and look out for countries that have not imposed any tariff on us, leverage them, and export more Ghanaian products to those areas.
By: Rainbowradioonline.com/Ghana
