Africa countries have been urged to respond collectively under the umbrella of African Union (AU) to the recent 10 per cent tariff increment imposed by the United States of America (USA) on goods entering that country.
Chief Executive of Ghana International Trade and Finance Conference (GITFiC), Selasi Koffi Ackom, who made the call, said "Given that over 80 per cent of countries in Africa may lack the capacity for effective individual retaliation, a united response is recommended to maximise the impact".
He noted that considering the continent's diverse economies and the potential for coordinated action through organisations like the African Union, "We believe this decision could greatly enhance Africa's role in global trade." Mr Ackom, in a statement, he signed, and copied The Ghanaian Times, in Accra, said the evolving global trade environment presented both challenges and opportunities for countries, particularly those in Africa, to strengthen their economic futures. "It is crucial for both highly affected and less affected countries to promptly engage with the World Trade Organisation (WTO) and invoke WTO Article XXIII, which addressed dispute resolution and consultation, thereby facilitating constructive dialogue and urgent redress," he advised.
Mr Ackom said all countries affected by the US tariff retained the right to seek legal recourse against the US for reversal, economic damages and compensation, emphasising the importance of fairness in international trade.
