10% Tariff won’t affect local cocoa industry – Ghana Cocoa Farmers

The United States’ decision to impose a 10% tariff on imports from all countries is expected to have far-reaching consequences on the global economy, affecting multiple sectors.

Among those impacted are major cocoa-producing nations creating a competitive edge for European chocolate companies over their American counterparts.

The 10% tariff, unilaterally announced by U.S. President Donald Trump, targets imports from across the globe, including Ghana.

Affected goods include garments, textiles, cashews, shea butter, fruits, vegetables, yams, and cocoa products. As the world’s second-largest cocoa exporter, Ghana relies heavily on this sector; cocoa alone accounted for 62.1% of the country’s total exports in 2024.

In 2023, Ghana exported $154 million worth of cocoa beans to the United States, making the U.S. a key trade partner.

The new tariff has raised concerns about its impact on national revenue and stakeholders in the cocoa industry.

But Stephenson Anane Boateng, President of the Ghana National Cocoa Farmers Association, believes the local industry may not suffer as much as feared.

“We are the producing country; people are demanding from us, so the tariffs imposed on exportation into the US is not a big deal. We have to add it to our cost” he said.

Stephenson also urged local chocolatiers to consider passing the additional cost from the tariffs on to consumers.