Monday, 24 November

Ghana welcomes rescission of Trump's 15% tariffs on cocoa, other agric products, and forecasts $60m in revenue boost

Business
Samuel Okudzeto Ablakwa, Foreign Affairs Minister

The United States Administration has officially informed the Government of Ghana that President Trump’s 15% imposition of tariffs on cocoa and certain qualifying agricultural products from Ghana have been rescinded, the Foreign Affairs Minister, Samuel Okudzeto Ablakwa, has announced.

He left a statement on his Facebook page, Monday, November 24, 2025.

"US diplomats confirm to me that the 15% tariff reversal came into effect on November 13, 2025, following President Trump’s new Executive Order," Mr Ablakwa said.

"Other agricultural products from Ghana now exempted include cashew nut, avocado, banana, mango, orange, lime, plantain, pineapple, guava, coconut, ginger and assorted peppers," he also enumerated.

The minister optimitically forecast, "With an estimated annual Ghanaian cocoa beans export to the US averaging 78,000 metric tons, and at current spot price of $5,300/MT, Ghana stands to raise additional revenue of US$60 million (GHS667million) each year resulting from Trump’s tariff rescission."

"Ghana welcomes this positive development from the US which is the world’s leading importer of chocolate and cocoa products," Mr Ablakwa emphasised.

"Ghana and the USA will continue to forge closer and mutually beneficial relations," he noted, in conclusion.

Source: classfmonline.com