The Ministry of Commerce, Agribusiness & Business has assured the Ghanaian personal sector, particularly main exporters, traders and most of the people of the federal government’s dedication to have interaction the USA on the present imposition of tariffs on Ghanaian merchandise.
That is to keep away from commerce disruptions and funding selections within the nation.
In a press release, the Ministry stated the Ministers of Commerce, Agribusiness & Business, Finance and Overseas Affairs will instantly interact the US Ambassador to Ghana on Monday, April 7, 2025.
It added that as a matter of urgency, additionally it is participating related stakeholders to find out the extent of the impact and assess the total impression of the US tariffs on the nation’s financial system.
“Moreover, numerous methods are into consideration to mitigate the fast impression on Ghana’s commerce. A lot of the Ghanaian exports to the US market benefit from the duty-free quota-free market entry by way of the African Progress and Alternative Act (AGOA), which is a nonreciprocal preferential commerce settlement between the USA and eligible African nations, together with Ghana”, the assertion defined.
The USA introduced on April 2, 2025, the imposition of a ten% common tariff, efficient April 5, 2025, protecting imports from all nations together with Ghana into the US. Nonetheless, items which can be on transit as of the date are exempt from the introduced tariffs.
As well as, reciprocal tariffs had been additionally imposed on over 50 nations with charges starting from 11% to 50%, efficient April 9, 2025.
In line with the Govt Order, the tariffs are being imposed pursuant to the Worldwide Emergency Financial Powers Act of 1977 (IEEPA) as a consequence of financial and nationwide safety implications of the nation’s world commerce deficits. The Govt Order particularly exempts sure merchandise from the common and reciprocal tariffs. These merchandise embody copper, prescription drugs, semiconductors, lumber articles, vitality and vitality merchandise, and sure crucial minerals.
In line with the Commerce Ministry, the US market offers a ready-made complementary market vacation spot for a number of necessary precedence export merchandise from Ghana, reminiscent of attire, cocoa derivatives, gold jewelry, shea butter, horticulture merchandise together with root crops (Yam), fruits, greens, cashew, and many others.
The Ministry burdened the federal government’s dedication to making sure that the personal sector is well-informed on the small print of the imposition to keep away from commerce disruption in addition to guarantee predictability of funding selections within the nation.
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