• Contact US
  • Advertise With US
  • Privacy & Policy
  • Submit Station
Thursday, October 2, 2025
Kumasi Mail
Advertisement
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    PAC recovers GH¢12.9bn in misappropriated public funds

    PAC recovers GH¢12.9bn in misappropriated public funds

    NADMO extends relief to conflict-affected communities in Bole district

    NADMO extends relief to conflict-affected communities in Bole district

    Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

    Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

    ‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

    ‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

    Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

    Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

    Ghana to introduce HIV preventive vaccine by 2026, plans local production

    Ghana to introduce HIV preventive vaccine by 2026, plans local production

    Four armed robbers including two soldiers, arrested  at Prestea Mining site

    Four armed robbers including two soldiers, arrested at Prestea Mining site

    We’re working with police to arrest dismissed KNUST SHS assistant headmaster – Gender Minister

    We’re working with police to arrest dismissed KNUST SHS assistant headmaster – Gender Minister

    GBA President urges Lawyers to prioritize public service

    Artificial Intelligence can enhance Ghana’s courts – GBA President

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    PAC recovers GH¢12.9bn in misappropriated public funds

    PAC recovers GH¢12.9bn in misappropriated public funds

    NADMO extends relief to conflict-affected communities in Bole district

    NADMO extends relief to conflict-affected communities in Bole district

    Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

    Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

    ‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

    ‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

    Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

    Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

    Ghana to introduce HIV preventive vaccine by 2026, plans local production

    Ghana to introduce HIV preventive vaccine by 2026, plans local production

    Four armed robbers including two soldiers, arrested  at Prestea Mining site

    Four armed robbers including two soldiers, arrested at Prestea Mining site

    We’re working with police to arrest dismissed KNUST SHS assistant headmaster – Gender Minister

    We’re working with police to arrest dismissed KNUST SHS assistant headmaster – Gender Minister

    GBA President urges Lawyers to prioritize public service

    Artificial Intelligence can enhance Ghana’s courts – GBA President

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
Kumasi Mail
No Result
View All Result
  • Home
  • News
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
Home World

Bawumia cautions policymakers: Tariffs won’t fix trade deficits

Kumasi Mail by Kumasi Mail
May 17, 2025
in World
0
Bawumia cautions policymakers: Tariffs won’t fix trade deficits
Share on FacebookShare on Twitter

Former Vice President of Ghana, Dr. Mahamudu Bawumia, has urged global policymakers to reconsider the use of tariffs as a tool for addressing trade imbalances, emphasizing that trade deficits are rooted in broader macroeconomic conditions rather than trade policies alone.

Speaking at the International Democracy Union (IDU) Forum in Brussels, Dr. Bawumia expressed concern over what he described as a growing disregard for economic history and fundamental economic principles.

“One of the things policymakers are failing to do is to learn from both history and economics,” he remarked.

Using global trade statistics to illustrate the scale of trade imbalances, Dr. Bawumia noted that Africa contributes only 2.5% to global exports while accounting for 2.9% of global imports. By comparison, Asia accounts for 43% of global exports and 38% of imports; Europe, 38% and 51% respectively; and the United States, 8% and 14%.

“These are clear trade imbalances,” he said. “But what we know from economics is that you cannot fix a trade deficit with tariffs — it just doesn’t work.”

Dr. Bawumia explained that trade balances are closely tied to macroeconomic fundamentals, particularly the relationship between national savings and investment. He argued that trade deficits reflect underlying structural economic issues that cannot be addressed solely through trade policy measures such as tariffs.

“If you look at the national income identity — where your income equals consumption, investment, government spending, plus exports minus imports — it simplifies to a truism: the trade deficit must equal the difference between national savings and investment,” he explained.

“For any country that spends more than it saves, a trade deficit is inevitable. The deficit is a macroeconomic issue, not a trade policy issue, and you cannot resolve it through tariffs,” he added.

Dr. Bawumia’s remarks serve as a call for policymakers to take a more holistic approach to economic management, grounded in sound macroeconomic principles rather than short-term trade interventions.

Tags: broader macroeconomic conditionsDr. Mahamudu BawumiaFormer Vice President of Ghanaglobal policymakerstopstorytrade deficits
ShareTweetSend
Previous Post

Notorious robbery suspect captured in Togo, extradited to Ghana

Next Post

Drug abuse among students in Ejura is on the rise – Ejurahene

YOU MAY LIKE

ORAL committee to submit report after reviewing over 700 petitions
World

US lifts Visa restrictions on Ghana, restores five-year multiple entry privileges

Mahama demands permanent seat for Africa on UN Security Council
World

Mahama demands permanent seat for Africa on UN Security Council

UNGA 80: Africa needs a reset – Mahama declares
World

UNGA 80: Africa needs a reset – Mahama declares

Mahama arrives in Singapore for a State Visit to deepen Ghana–Singapore partnership
World

Singapore President Expresses Confidence in Mahama’s Government

Mahama arrives in Singapore for a State Visit to deepen Ghana–Singapore partnership
World

Mahama arrives in Singapore for a State Visit to deepen Ghana–Singapore partnership

Next Post
Drug abuse among students in Ejura  is on the rise  – Ejurahene

Drug abuse among students in Ejura is on the rise - Ejurahene

Ghana’s religious tolerance: A performance for the cameras? 

Ghana’s religious tolerance: A performance for the cameras? 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST NEWS

Goncalo Ramos said Paris St-Germain “want to win everything again” after his last-minute winner downed Barcelona in the battle of two of the Champions League favourites

Goncalo Ramos said Paris St-Germain “want to win everything again” after his last-minute winner downed Barcelona in the battle of two of the Champions League favourites

PAC recovers GH¢12.9bn in misappropriated public funds

PAC recovers GH¢12.9bn in misappropriated public funds

Film industry needs tax incentives to attract big production deals

Film industry needs tax incentives to attract big production deals

Accra embraces Israeli Cinema as the wedding plan captivates film festival crowd

Accra embraces Israeli Cinema as the wedding plan captivates film festival crowd

NADMO extends relief to conflict-affected communities in Bole district

NADMO extends relief to conflict-affected communities in Bole district

Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

Tobinco Pharmaceuticals donates Air Conditioner to St. Theresa Catholic Hospital in Nandom

‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

‘Arrogance and Reversal’: Minority slams and demands Sam George to account for GH₵10,000 levy imposed on DSTV

Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

Abronye’s allegations against Kennedy Agyapong exposed as baseless, NPP Gen Sec fires back

Kodua threatens mass suspensions if given power in his role as General Secretary

Kodua threatens mass suspensions if given power in his role as General Secretary

Ghana to introduce HIV preventive vaccine by 2026, plans local production

Ghana to introduce HIV preventive vaccine by 2026, plans local production

  • Trending
  • Comments
  • Latest
52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Asokore Mamponhene Nana Boakye Ansah passes away

Asokore Mamponhene Nana Boakye Ansah passes away

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

Hello world!

1
NCA promises lower data prices by year-end

NCA promises lower data prices by year-end

1
COVID-19: Information Ministry justifies GHC150K spent on staff

COVID-19: Information Ministry justifies GHC150K spent on staff

1
EC to conduct mop-up registration August 1-3

EC to conduct mop-up registration August 1-3

1
Goncalo Ramos said Paris St-Germain “want to win everything again” after his last-minute winner downed Barcelona in the battle of two of the Champions League favourites

Goncalo Ramos said Paris St-Germain “want to win everything again” after his last-minute winner downed Barcelona in the battle of two of the Champions League favourites

PAC recovers GH¢12.9bn in misappropriated public funds

PAC recovers GH¢12.9bn in misappropriated public funds

Film industry needs tax incentives to attract big production deals

Film industry needs tax incentives to attract big production deals

Accra embraces Israeli Cinema as the wedding plan captivates film festival crowd

Accra embraces Israeli Cinema as the wedding plan captivates film festival crowd

Facebook Twitter Youtube Instagram
Kumasi Mail

About US

Advertise With US

Submit Station

© 2024 KumasiMail.com