Outgoing United States Ambassador to Ghana, Virginia Palmer, has indicated that Ghana stands to benefit from recent global tariff adjustments introduced by the U.S., especially when compared to some of its trade competitors.
Speaking in an interview on The Point of View on Channel One TV with Bernard Avle aired on Monday, May 26, Ambassador Palmer explained that although Ghana faces a 10% tariff on exports to the U.S., this rate is far more favorable than those imposed on other countries.
“There were 10% applied globally, which the new US administration has taken, that may in the short term [be] to Ghana’s advantage, vis-à-vis its competitors. Oil and gas, which is being [a] major exporter to the US, is not subject to the tariff. If Ghana faces a 10% tariff, Bangladesh and Vietnam face 47% and 63%,” she said.
Ambassador Palmer also noted that around 60 countries are contending with tariffs higher than 10%, giving Ghana a potential advantage in global trade.
“There were 60 countries where tariffs were much higher than 10%, which may be an advantage for Ghana in the near term. I hope that Ghana will be the one making that point to the American legislature when it expires at the end of September [2025],” she added.
Ambassador Palmer encouraged Ghana to proactively engage U.S. lawmakers, especially ahead of the expiration of the current tariff framework later this year.
Source: citinewsroom.com
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