Business News of Thursday, 7 August 2025

Source: www.ghanaweb.com

15% US tariff on Ghanaian exports takes effect August 7

US President, Donald Trump US President, Donald Trump

The 15 percent tariff announced by the United States on exports from Ghana takes effect on August 7, 2025.

The US government announced the imposition of the tariff on July 31, 2025, affecting Ghana and 15 other African countries.

The tariff applies to African nations including Ghana, Nigeria, Zimbabwe, Zambia, Uganda, Mozambique, Mauritius, Malawi, Lesotho, and Madagascar, among others.

As a result, Ghanaian goods entering the US will now be subject to a 15 percent duty, significantly increasing export costs.

Meanwhile, in an exclusive interview with GhanaWeb Business on August 2, 2025, the Chinese Ambassador to Ghana, Tong Defa, reaffirmed China's zero-tariff policy for Ghana and 52 other partner countries. This move is part of broader efforts to strengthen diplomatic ties and support mutual economic growth.

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He disclosed that Ghana and China are currently in discussions to finalize implementation details of the zero-tariff policy in a manner that benefits both parties.

“China is still offering zero tariffs to all 53 countries that have diplomatic ties with China. We believe this has helped. It benefits both sides—China and Ghana. The two government agencies are currently discussing the detailed arrangement. We have already signed a framework MoU for this initiative, and both governments are accelerating efforts to determine how to implement the zero-tariff policy,” he stated.

In addition to the 15 percent tariffs on several African nations, the US has also imposed steeper duties on others. South Africa and Libya face a 30 percent tariff, while Tunisia is subject to a 25 percent duty.

Globally, the tariffs also affect several other countries, including Mexico, China, Canada, Germany, Japan, Vietnam, South Korea, Taiwan, Ireland, India, Italy, the United Kingdom, Switzerland, Thailand, France, and Malaysia, among others.

SP/MA

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