U.S. LIFTS 15% TARIFF ON GHANA’S COCOA, CASHEW, AND OTHER KEY EXPORTS IN MAJOR TRADE WIN

The United States has officially removed the 15% tariff imposed on Ghana’s cocoa beans and a range of other agricultural exports, a move hailed by the Ghanaian government as a significant victory for the nation’s economy.

Foreign Affairs Minister Samuel Okudzeto Ablakwa announced the development on Monday, confirming that the tariff reversal took effect on November 13, 2025, following a new executive order by U.S. President Donald Trump.

In a detailed Facebook post, the Minister outlined that the exemption covers a broad list of Ghanaian produce, including cocoa beans, cashew nuts, avocado, banana, mango, pineapple, plantain, coconut, ginger, and various peppers.

The decision marks a major relief for Ghana’s agricultural sector, particularly the cocoa industry, which is a cornerstone of the country’s foreign exchange earnings. Minister Ablakwa highlighted the financial impact, noting that with Ghana exporting approximately 78,000 metric tons of cocoa beans to the U.S. annually, and with current global prices around $5,300 per ton, the tariff removal is projected to generate an estimated US$60 million (approximately GHS 667 million) in additional revenue each year.

The tariffs were initially imposed on July 31, 2025, as part of a broader U.S. policy of reciprocal tariffs on several nations. The move had drawn strong criticism from Ghanaian officials, including Deputy Trade Minister Sampson Ahi, who argued the levy was unjust given that the United States does not produce cocoa domestically.

The government’s persistent diplomatic engagement is credited with securing this favorable outcome. “Ghana and the USA will continue to forge closer and mutually beneficial relations,” Minister Ablakwa stated, signaling a positive step in bilateral trade relations.

Source:NKONKONSA.com