China has said it is ready to drop the tariffs it charges on imports from all 53 African countries with which it has diplomatic relations.
The move, announced at a China-Africa co-operation meeting, comes as the continent is facing the possibility of increased tariffs on its products entering the US.
China is Africa’s largest trading partner – a position it has held for the last 15 years – with Africa exporting goods to the Asian nation worth around $170bn (£125bn) in 2023.
A joint ministerial statement criticised “certain countries’ [efforts to] disrupt the existing international economic and trade order” through the unilateral imposition of tariffs.
It then called on the US to resolve trade disputes on the basis of “equality, respect and mutual benefit”.
The zero-tariff move, when implemented, will be an extension of the deal made last year for China to drop tariffs on goods from 33 African nations classified as “least developed”.
The expanded list will include some of China’s largest trading partners on the continent, including South Africa and Nigeria. China has not said when the decision will come into effect.
Eswatini is the only African state excluded from the s zero-tariff announcement as it recognises Taiwan as an independent country, whereas China regards it as a breakaway province.
China currently imports a lot of raw materials from Africa, notably from the Democratic Republic of Congo and Guinea.
In April, President Donald Trump caused consternation among US trading partners by announcing high tariffs on its imports form many countries, including a 50% rate for Lesotho, 30% for South Africa and 14% for Nigeria.
The implementation has been paused until next month, though the temporary halt could be extended further for countries that are negotiating “in good faith”, according to US Treasury Secretary Scott Bessent.
In 2024, the US imported $39.5bn-worth of goods from Africa. Some of that was brought in under the zero-tariff deal known as the Africa Growth and Opportunity Act (Agoa) which now looks under threat if the Trump administration goes ahead with the imposition of fresh charges.
Source: BBC
Related Posts
