President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke, has warned that the new U.S. tariff on Ghanaian exports could have far-reaching effects — including a drop in remittance inflows, a key lifeline for the Ghanaian economy.
He explained that rising inflation in the U.S., partly driven by tariff-related price hikes, could reduce the disposable income of American consumers, including the Ghanaian diaspora.
This, he cautioned, would likely lead to lower remittances.
“Remittances are now a core part of our national inflows,” Dr. Ayim-Darke said.
“If the diaspora is financially squeezed, how much support will still come back home? The ripple effects on families, consumption, and even government revenue could be severe.”
He stressed that remittances play a critical role in supporting basic services like education and healthcare and serve as a stabilizing force in Ghana’s economy.
A decline would hit the most vulnerable hardest.
In 2024, Ghana received $6.65 billion in remittances from Ghanaians living abroad, according to the Bank of Ghana’s January 2025 Summary of Economic and Financial Data.
Dr. Ayim-Darke urged policymakers to see the U.S. tariff not as an isolated issue, but as part of a wider economic threat requiring urgent, coordinated regional action.
“This isn’t just about a 10% tariff,” he emphasized. “It’s about protecting Ghana’s economic resilience — from the top-level budget to the pocket of the everyday Ghanaian. We must act together, and act fast.”