The Importers and Exporters Association of Ghana (IEAG) has expressed worry over the introduction of a baseline 10 percent tariff on exports from Ghana and other countries to the United States of America.
President Donald Trump announced the imposition of new tariffs on US trading partners and a 10 percent baseline tax on imports from all countries in response to an economic emergency.
Mr Samson Awingobit Asaki, the Executive Secretary of the IEAG, reacting to the tariff imposition, said it would negatively affect the exportation of goods from Ghana to the USA, explaining that it meant that, the duty-free access to the US market by exporters under the African Growth and Opportunity Act (AGOA) would not exist.
Mr Asaki said, “What the US government has done is a big blow to us. We have an AGOA programme with them and other bilateral agreements we have signed for businesses with the US. Now that they are imposing 10 percent on us, it means that any of our exports that get there, we have to pay a duty increased by 10 percent, which is a cost.”
He added that it could lead to low production of the goods Ghanaians export there, which would affect employees of the affected goods and could lead to some unemployment among affected exporters.
He called on the government of Ghana to speak on the issue since it has to do with international relations and has dire consequences for the business community.
“It will be a challenge for the business community, so, those who will import from Ghana will pay more and pass it to the customer, who may also decide not to buy because of the high price,” he said.
GNA
