US clarifies: 10% tariff does not apply to Ghana’s oil, gas, and energy exports

The U.S. Ambassador to Ghana, Virginia Palmer, has clarified that the recently imposed 10% tariff on Ghanaian exports does not apply to oil, gas, and energy-related products, offering some relief amid rising concerns from stakeholders in the trade and energy sectors.

Ambassador Palmer made the clarification during a high-level meeting at the Ministry of Foreign Affairs in Accra, following an invitation from Ghana’s Minister for Foreign Affairs, Samuel Okudzeto Ablakwa.

The meeting, held on April 5, brought together officials from the Ministries of Trade, Agribusiness and Industry, including Deputy Minister Sampson Ahi.

Addressing the gathering, Ambassador Palmer explained that the tariff was introduced under the International Emergency Economic Powers Act (IEEPA) of 1977 and is part of a broader U.S. strategy to address global trade imbalances.

However, she emphasized that the 10% levy is not targeted at Ghana specifically, and that key Ghanaian exports such as crude oil, natural gas, and other energy-related products are exempt from the new import tax.

The announcement comes as a partial relief to Ghana, a country whose energy sector plays a significant role in its export economy. However, concerns remain for other sectors that are expected to be affected by the tariff.

Government officials used the opportunity to call for further dialogue to explore additional exemptions and reduce the tariff’s impact on Ghanaian businesses. Discussions also covered potential collaboration in mitigating trade disruptions and supporting bilateral investments.

Both Ghana and the U.S. reaffirmed their commitment to maintaining strong diplomatic and trade relations. The Ministry of Foreign Affairs, along with the Ministry of Trade, assured the public that negotiations will continue with the goal of protecting Ghanaian interests and preserving jobs.

The two sides also agreed to work together to identify long-term solutions, while strengthening ties that support mutual economic growth.

Source: Gh Extractives