US withdraws tariff on Ghana’s cocoa — Okudzeto Ablakwa

The Minister of Foreign Affairs, Okudzeto Ablakwa, has reported that the United States (US) government has officially withdrawn the 15 per cent tariff that President Trump placed on cocoa and some agricultural products from Ghana. He indicated that United States diplomats confirmed that the reversal took effect on November 13, following a new Executive Order issued by the US President.

He explained that the withdrawal covers cocoa and other Ghanaian products, including cashew nut, avocado, banana, mango, orange, lime, plantain, pineapple, guava, coconut, ginger and assorted peppers. According to him, Ghana exports about 78,000 metric tons of cocoa beans to the United States every year.

With the current global price at $5,300 per metric ton, the removal of the tariff is expected to bring Ghana an additional $60m, which is about GH¢667m in revenue each year. He welcomed the decision, describing it as a positive step from the United States, which is the world’s largest importer of chocolate and cocoa products.

He added that Ghana and the United States will continue to strengthen their cooperation and deepen their economic ties following this development.

BY JACOB AGGREY

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