Welcome to the Land of Origins where the future is taking shape, President Joseph Nyuma Boakai of the Republic of Liberia. I look forward to our fruitful engagements during the course of your stay.
Breaking News ‼️
Pastor Nebiy Henok Girmay was arrested at Addis Ababa Airport upon his return from the United States. A couple of weeks earlier, during a sermon, he had sparked controversy by insulting the people of Selale, labeling them as demons and accusing them of practicing voodoo.
This morning, I welcomed Téte António, Minister of External Relations of the Republic of Angola, to my office in his capacity as Special Envoy of President João Manuel Gonçalves Lourenço, who delivered a message on behalf of the President.
President Trump imposes far-reaching tariffs on all countries, from 10% to 50%.
Tariffs on Africa (highest to lowest)
#Lesotho 50%
#Madagascar 47%
#Mauritius 40%
#Botswana 37%
#SouthAfrica 30%
#cotedivoire 21%
#Namibia 21%
#Nigeria 14%
#Ghana 10%
#Kenya 10%
#Ethiopia 10%
POTENTIAL AFRICAN WINNERS: Countries such as Kenya, Ghana and Ethiopia with the lowest tariffs of 10%. They have a unique opportunity to expand their exports to the U.S. at low tariffs which could make their products more price competitive.
For instance, Ethiopia, which has invested hundreds of millions in labor intensive industries for exports such as garments, and competes globally with garment industry heavyweights such as Vietnam and Bangladesh, could price outcompete these two countries which are facing increased U.S. tariffs of 46% and 37% respectively.
AFRICAN COUNTRIES FACING BIG CHALLENGES: Countries such as South Africa, Madagascar and Mauritius, slapped with very high tariffs of up to 50%. They could be significantly and negatively impacted since they won’t be price competitive as before exporting to the U.S. These countries have to quickly develop new strategies or else entire industries, geared for U.S. exports, could be decimated.
Does AGOA matter anymore for Africa?
Globalization has entered a new uncharted era and African countries need to prepare.