• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Ghana Slapped With 10% Tariff Access to US Market as Trade War Escalates

4 months ago
in Agribusiness, Business, Economy, Features, highlights, Home, home-news, latest News, Trade
1 min read
0 0
0
220
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Slapped With 10% Tariff Access to US Market as Trade War Escalates

Ghana’s duty-free access to the US market under the African Growth and Opportunity Act (AGOA) has been abruptly terminated with a 10% tariff imposition on exports to the US market, marking a significant blow to the country’s export sector.

The move comes as part of Washington’s newly announced reciprocal tariff measures, which have also affected several major economies, including China, Vietnam, the European Union, and even Israel.

Under the new regime:

  • Vietnam faces a 46% tariff rate

  • China will see a combined 54% tariff when added to Trump’s existing 20% levy

  • The European Union is subject to a 20% tariff

  • Even Israel has not been exempted

Implications for Ghana’s Export Strategy

The removal of AGOA privileges represents a major setback for Ghana’s Accelerated Export Strategy, which relies heavily on access to US markets for processed cocoa, textiles, and agricultural products. The decision could lead to a sharp decline in export revenues, increased costs for Ghanaian exporters, and potential job losses across key industries.

Trade analysts warn that Ghana’s exports could struggle to remain competitive without preferential tariff treatment. While African economies had hoped for an AGOA renewal, the latest decision suggests a shift towards reciprocal trade agreements, potentially forcing Ghana into a bilateral trade negotiation with the US.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Broader Global Trade War

The aggressive tariff policy has heightened global trade tensions, with expectations of retaliatory measures from affected countries. China, the EU, and other key US trading partners are likely to respond in kind, potentially leading to a full-scale trade war with widespread economic consequences.

With Ghana’s non-traditional exports already facing global headwinds, the government may need to urgently explore alternative trade arrangements to cushion the impact of this policy shift. The potential for diversification into regional and European markets could be explored, though any new agreements will take time to materialize.

As the trade war escalates, Ghanaian policymakers and exporters will need to reassess market strategies, particularly in light of the looming uncertainty in global trade relations.

Continue Reading
Tags: Ghana Slapped With 10% Tariff Access to US Market as Trade War Escalates

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.