France, Aug. 1 -- African countries have gained an extra week to renegotiate trade terms with Washington, with new US tariffs- including steep hikes for South Africa and Algeria- now due to take effect on 7 August. The latest executive order signed by President Trump introduces a flat 15 percent tariff on most African exports to the United States, replacing a patchwork of earlier rates.
Most African countries will be hit with 15 percent tariffs, including Angola, the Democratic Republic of Congo (DRC), Cote d'Ivoire, Ghana, Uganda and Botswana.
Some countries had previously benefited from duty-free access under the African Growth and Opportunity Act (AGOA), so the new 15 percent tariff represents a significant new cost for exporters.
I...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.