U.S. President Donald Trump has unveiled a new set of ambitious tariffs that are set to escalate global trade tensions. The tariffs include a 34% levy on imports from China and a 20% tax on goods from the European Union.
However, the measures also impact Ghana, which will now face a 10% baseline import tax on goods entering the U.S.
Speaking from the Rose Garden, Trump declared a national economic emergency, stating that the tariffs were necessary to revitalise domestic manufacturing and to put an end to what he described as decades of economic exploitation by foreign nations. “Our country has been looted, pillaged, raped, and plundered by other nations,” Trump said. “Taxpayers have been ripped off for more than 50 years. But that will not happen anymore.”
The tariffs, which have been introduced under the 1977 International Emergency Powers Act without Congressional approval, are designed to target countries with significant trade surpluses with the U.S. In addition to Ghana, several other nations will face similar import taxes, putting additional strain on global supply chains.
As a result of these new measures, Ghanaian businesses exporting goods to the U.S. will now contend with higher costs, potentially affecting the trade relationship between the two nations. This move reflects a broader shift in U.S. trade policy, one that is set to have far-reaching consequences for international commerce.
