The US has just declared economic war on Africa. It will backfire
In April, US President Donald Trump implemented new tariff policies, imposing a maximum of 50% on goods entering America from African countries. They previously enjoyed free access benefits from the Africa Growth and Opportunity Act (AGOA), which, according to the Center for Global Development, used to provide sub-Saharan African countries with duty-free access to over 7,000 products.
In 2023, the Office of the US Trade Representative reported that the US imported goods worth $9.7 billion under the AGOA, with South Africa ($14.0 billion), Nigeria ($5.7 billion), Ghana ($1.7 billion), Angola ($1.2 billion), and Cote d’Ivoire ($948 million) being Africa’s biggest exporters.
But with a 10% universal tariff now imposed on all African nations, experts believe the AGOA may have come to an end. However, the same experts also say Africa’s market of 1.4 billion people can serve as the best response to external economic shocks caused by Trump’s trade tariffs.
Dr. Francis Owusu, a trade economist at the University of Ghana, notes that with the new tariffs, “Trump not only made AGOA lame, but........© RT.com
