Economist Dr. Samson Anomah has warned the 10% tariff announced by U.S. President Donald Trump could have serious implications for Ghana.
He stated that this could negatively impact our imports to the United States.
He stated and explained that the tariff announced could lead to an increase in goods exported from Ghana to the U.S., a situation that is likely to affect sales.
Dr. Anomah said if the citizens of the U.S. have other alternatives to the goods that we export to them, they will stop buying from us and focus on the alternatives.
U.S. President Donald Trump recently announced a new set of tariffs, including a 34% levy on Chinese imports, a 20% tax on European Union goods and a 10% tariff from other countries, including Ghana.
Commenting on this on Nyankonton Mu Nsem on Rainbow Radio 87.5FM, Mr Anomah said, “This could trigger serious or negative impacts for us. Our goods we import to the U.S. will definitely increase, and the danger is that if the U.S. citizens have other alternatives for the goods, they will stop buying our goods.
The situation is a serious one because it will deprive us of the foreign exchange we could get from exportation, and that will also have long-term effects on our local economy. So Ghana must find alternative markets where we can trade.”
When asked if Ghana should take advantage of the African Continental Free Trade Agreement (AfCFTA), he answered in the affirmative, saying, “The suggestion is good. We have not really taken off properly despite the existence of the AfCFTA. This is an opportunity for us to put in measures to trade within the subregion. We can also penetrate through the Asian, Indian and Chinese markets. We can stop trading on the American markets and focus on other markets,” he added.
By: Rainbowradioonline.com/Ghana
