Business
China retaliates with 84 per cent tariffs on US goods as Trump trade war escalates

China unveiled retaliatory tariffs of 84% on imports of US goods on Wednesday, matching additional tariffs imposed by US President Donald Trump earlier in the day and further inflaming a trade war between the world’s two biggest economies.
Trump’s sweeping “reciprocal” tariffs took effect earlier on Wednesday. China was the hardest-hit nation with a levy now totaling at least 104% on all its goods. The two countries have been involved in a game of tit-for-tat on trade, with Beijing standing firmly against each new tariff introduced by Washington.
“The US escalation of tariffs on China is a mistake upon mistake, severely infringing upon China’s legitimate rights and interests, and seriously damaging the multilateral trading system based on rules,” China’s State Council Tariff Commission said in a statement announcing the fresh levy.
The amped-up retaliation comes after China repeatedly warned that it would “fight to the end” if the US moved forward with further tariffs. On Wednesday, Trump’s additional levies on Chinese imports had originally been set to increase by 34 percentage points.
But the president tacked on another 50 percentage points after Beijing refused to back down from the standoff. Prior to the latest rounds of escalation, Trump had already imposed 20% levies on China since his return to the White House.
In addition to the increased levy, China’s Commerce Ministry imposed export controls on 12 American companies, barring Chinese companies from supplying them with dual-use items that have both military and civilian applications.
It also added six more US firms to its “unreliable entity list,” banning them from trading or making new investments in China, and filed a complaint to the World Trade Organization over the latest US tariffs.
US Treasury Secretary Scott Bessent has shrugged off China’s retaliatory move, telling Fox Business on Wednesday that it is unfortunate that China does not “want to come and negotiate” a tariff deal. He called China the “worst offenders in the international trading system.”
“They have the most imbalanced economy in the history of the modern world, and I can tell you that this escalation is a loser for them … They’re the surplus country,” Bessent said. China’s “exports to the US are five times our exports to China. So, they can raise their tariffs. But so what?”
Bracing for impact
As Trump escalated his tariff war, the message from the Chinese government, state media and opinion leaders alike has been one of defiance, voicing their determination to strike back while leaving the door open for negotiation.
Shortly after the latest round kicked in on Wednesday, a Chinese Foreign Ministry spokesperson told reporters that US needed to “demonstrate an attitude of equality, respect and mutual benefit” if it truly wanted to resolve the trade war through dialogue.
China also released a white paper on its trade and economic ties with the US, saying that relations had been damaged by the “unilateral and protectionist measures” taken by Washington.
In a written Q&A about the white paper, an unnamed Commerce Ministry official emphasized that China does not want a trade war, but said Beijing would “never sit idly by” while the legitimate rights and interests of the Chinese people are “harmed or stripped away.”
“If the US insists on further escalating trade restrictions, China has the firm will and ample tools to take resolute countermeasures — and will see it through to the end,” said the official.
Despite the defiant tone and calibrated confidence, China is bracing for impact to its export sector, which has been a bright spot in its otherwise slowing economy. Last year, trade between the US and China totaled roughly half a trillion dollars.
The successive rounds of tariffs come as China has reveled in a feeling of greater economic vitality following years of grappling with a crisis in the property sector, high local government debt and the fallout from Beijing’s pandemic controls.
Last month, the Chinese government announced a slew of measures to rev up domestic consumption as it anticipated the impact from Trump’s trade policy on its export-powered growth.
Source: Graphic Online
Business
NEIP and MoFA Partner to Boost Poultry Agribusiness Under Adwumawura Programme

The National Entrepreneurship and Innovation Programme (NEIP) has signed a Memorandum of Understanding (MoU) with the Ministry of Food and Agriculture (MoFA) to scale up support for agricultural entrepreneurs through the Adwumawura Programme.
The partnership seeks to strengthen Ghana’s agribusiness sector by combining MoFA’s technical expertise with NEIP’s entrepreneurship training initiatives.
As part of the agreement, MoFA will provide high-quality poultry feed and deliver technical and field support to programme beneficiaries. NEIP, on the other hand, will equip entrepreneurs with practical business training and essential resources, including hen coops, to help them establish and expand their poultry ventures.
At the signing ceremony, officials from both institutions emphasized that the collaboration is tailored to empower small-scale poultry farmers, especially “nkoko nketenkete” entrepreneurs, to create jobs, grow agribusinesses, and contribute to sustainable economic development.
The initiative falls under NEIP’s broader Reset Agenda, which is focused on driving innovation, supporting small enterprises, and positioning agriculture as a central pillar of Ghana’s economic transformation.
Business
Commercial Transport Operators Threaten Strike Over Soaring Spare Parts Prices

Commercial Transport Operators have issued a stern warning to government, demanding immediate action to reduce the high cost of spare parts or risk facing major disruptions in the transport sector.
In a statement dated September 9, 2025, the operators said they felt “compelled” to call on the Ministry of Transport, Ministry of Trade and Industry, Ministry of Finance, and the Parliamentary Select Committees on Trade, Industry, and Transport to swiftly intervene.
They recalled that in March 2025, during engagements with spare parts dealers and government officials, a promise was made to bring down spare parts prices, but nothing had been done since.
“Unfortunately, this promise has not been fulfilled, and the prices remain exorbitant,” the operators lamented.
The statement further warned: “If immediate action is not taken, we fear that the situation will escalate, and we may be forced to take drastic measures that could disrupt transportation services. We cannot continue to operate under these unsustainable conditions.”
They urged the relevant ministries and parliamentary committees to ensure that spare parts dealers adhere to their commitments, stressing that the survival of the transport industry—and by extension, the economy—depends on swift action.
“Failure to address this pressing issue will have severe consequences for our industry and the economy as a whole,” the statement concluded.
Business
GoldBod Unveils Bold Reforms to Transform Ghana’s Mining Sector

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, has announced sweeping reforms and strategic initiatives to position Ghana’s mining sector as a globally competitive and sustainable industry.
Speaking at the maiden edition of the Mining and Minerals Convention at the Kempinski Gold Coast Hotel, Mr. Gyamfi said the GoldBod was driving a paradigm shift from raw mineral extraction to value retention, with the goal of maximising national benefit from Ghana’s mineral wealth.
Between January and August 2025, small-scale gold exports facilitated by GoldBod reached a record 66.7 tonnes valued at $6 billion, surpassing the entire 2024 figure of 63 tonnes worth $4.6 billion. For the first time, small-scale gold exports outperformed large-scale mining exports over the same period.
Key reforms announced include:
Aggressive licensing reforms to promote responsible sourcing.
Scrapping of the 1.5% withholding tax on unprocessed small-scale gold.
Introduction of a nationwide traceability system to ensure transparency and compliance.
Partnerships requiring large-scale miners to supply 20% of their output to the Bank of Ghana for reserve accumulation.
To combat illegal mining, the GoldBod has pledged ₵5 million and five Toyota Hilux pickups to enforcement agencies, alongside a program to reclaim 1,000 hectares of degraded forest reserves beginning November 2025.
On value addition, Mr. Gyamfi announced plans for a state-owned gold refinery and an ISO-certified Assay Laboratory at Kotoka International Airport. Discussions are also underway to establish a “Gold Village” as a continental hub for jewellery production.
Calling for stronger investment, he urged local banks, pension funds, and financiers to channel resources into mining, stressing Africa’s need to transition from raw exports to beneficiation, from middlemen to tech-driven trade, and from youth as labourers to youth as innovators and owners.
“Ghana is resetting and Africa is rising. The GoldBod is ready. All we need now is courage and capital. Let us fund the minerals and mining sector differently. Let us transform it together,” Mr. Gyamfi concluded.
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