The government is working closely with trade sector stakeholders to develop effective strategies to protect domestic industries from the effects of the 10 percent US tariff on Ghanaian exports.
This follows the announcement of a three-month suspension of the “reciprocal” tariffs by President Donald Trump on Wednesday, April 9.
“The 90-day pause gives us the opportunity to assess the full impact of the tariff and adopt various strategies to mitigate its immediate effects on our trade and economy,” said Mrs. Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness, and Industry.
Speaking at a stakeholder meeting in Accra on Thursday, she noted, “Our meeting today is aimed at exploring immediate and pragmatic steps to mitigate the impact of the tariffs on domestic industries.”
She reaffirmed the government’s commitment to strengthening trade diplomacy, preserving preferential access, and enhancing investment promotion strategies.
Mrs. Ofosu-Adjare also introduced initiatives like the Accelerated Export Development Programme, Rapid Industrialisation for Jobs, and the 24-hour economy policy to help build resilience, boost production, and improve market access.
She urged stakeholders to work collectively to address the trade tensions, stressing the importance of the African Continental Free Trade Area (AfCFTA) in providing the best opportunities for market access.
“We aim to leverage the upcoming African Trade Ministers’ meeting to discuss the issue with the AfCFTA Secretariat, improve trade-related infrastructure, streamline regulations, and offer incentives for export-oriented investments,” she added.
The new tariff means Ghanaian exports such as cocoa, gold, and textiles will face a 10 percent tax in the US. This could lead to higher prices, reduced demand, and potentially harm exporters.
President Trump justified the tariffs as a response to perceived trade unfairness, citing Ghana’s trade surplus with the US.
Currently, Ghana imposes a 17 percent tariff on US goods. In 2024, Ghana recorded exports worth GH₵294.9 billion and imports totaling GH₵250.2 billion, resulting in a trade surplus of GH₵44.7 billion, according to the Ghana Statistical Service.
The International Trade Centre reported US imports from Ghana at $1.21 billion and exports to Ghana at $967 million, creating a $244 million trade surplus in Ghana’s favor, or about 4.5 percent of its total exports in 2024.
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