The outgoing United States Ambassador to Ghana, Virginia Palmer, has stated that Ghana could gain a competitive edge in international trade due to the latest global tariff regime introduced by the U.S. government.
Speaking in an interview on Channel One TV on Monday, 26 May, Ambassador Palmer explained that although Ghanaian exports are subject to a 10% tariff, this rate is relatively lower compared to those levied on other exporting 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 stated.
Ambassador Palmer added that nearly 60 countries are currently dealing with tariffs well above 10%, thereby providing Ghana with a more favourable position in the short-term trading landscape.
“There were 60 countries where tariffs were much higher than 10%, which may be an advantage for Ghana in the near term,” she said.
She urged Ghana to capitalise on this opportunity by engaging with U.S. lawmakers, particularly in light of the tariff framework’s expiration later this year.
“I hope that Ghana will be the one making that point to the American legislature when it expires at the end of September[2025],” Ambassador Palmer concluded.
Source: Myjoyonline.com
