Ghana’s Ministry of Trade, Agribusiness & Industry has assured exporters and investors of swift action to mitigate the effects of 10% tariffs imposed by the government of United of America America.
U.S. Tariff Breakdown
Universal Tariff: The 10% tariff applies universally to all imports, effective April 5, 2025. Goods that were in transit as of the announcement date are exempt from these tariffs, providing some relief to exporters who had already initiated shipments.
Reciprocal Tariffs: In addition to the universal tariff, the U.S. will impose reciprocal tariffs on over 50 countries, with rates ranging from 11% to 50%, effective April 9, 2025. This move is part of a broader effort to rebalance trade relationships and address perceived trade imbalances.
The tariffs, imposed under the International Emergency Economic Powers Act of 1977 (IEEPA), are said to address economic and national security concerns arising from the U.S.’s global trade deficits.
In a press statement issued, Ghana’s Ministry of Trade, Agribusiness and Industry assured the private sector, especially exporters and investors, of the government’s swift response to the situation.
“The Ministry as a matter of urgency, is also engaging relevant stakeholders to determine the extent of the effect and assess the full impact of the US tariffs on the
country’s economy.”
The Ministry noted that the private sector will be well-informed about the details of the imposition to avoid trade disruptions.
“The Government is committed to ensuring that the private sector is well-informed about the details of the imposition. This will help avoid trade disruptions and ensure predictability in investment decisions within the country.”
The Government of Ghana is taking proactive steps to address the situation. Ministers from the Trade, Finance, and Foreign Affairs sectors are scheduled to meet with the U.S. Ambassador to Ghana, Virginia Palmer, on Monday, April 7, 2025, to discuss the recently imposed tariffs and explore ways to minimize their impact.
“As an immediate measure, the Ministers of Trade, Agribusiness & Industry, Finance, and Foreign Affairs will engage with the U.S. Ambassador on Monday, April 7, 2025.”
The Ministry emphasized that many Ghanaian exports to the U.S. currently benefit from duty-free, quota-free access under the African Growth and Opportunity Act (AGOA), a non-reciprocal preferential trade agreement for eligible African countries.
“The Executive Order specifically exempts certain products from the universal and reciprocal tariffs. These products include copper, pharmaceuticals, semiconductors, lumber articles, energy and energy products, and certain critical minerals,” the statement emphasized.
Attach is the presser of the ministry:
Source: www.kumasimail.com/ Kwadwo Owusu
