U.S. Tariffs Threaten African Economies
(MENAFN) A Ghanaian economic analyst has warned that African nations are set to experience harmful effects due to the current tariff conflict instigated by the United States.
Leslie Dwight Mensah, an economist affiliated with the Institute for Fiscal Studies, shared in a recent conversation with a news agency that African states conducting commerce with the U.S. are expected to suffer adverse outcomes as a result of the newly introduced trade duties.
Nevertheless, he noted that the level of these effects will vary between countries, depending on the magnitude and importance of their commercial connections with the United States.
"Under the initial tariff proposals, many African economies will see positive tariffs on most exports to the United States compared to the zero tariffs they previously enjoyed. This certainly will eliminate some export trade," Mensah remarked.
At the beginning of April, the U.S. administration unveiled an additional series of tariffs directed at a broad spectrum of nations, significantly affecting multiple African countries.
The policy includes levies as high as 50 percent on items originating from Lesotho, 47 percent on products from Madagascar, 40 percent on goods from Mauritius, and 37 percent on exports from Botswana.
Mensah further explained that the United States comprises less than 5 percent of Ghana's outbound trade.
"So, macroeconomically speaking, this should soften the impact of increased U.S. import tariffs."
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