Ghana to Face Minimal Economic Impact from New US Tariffs, Fitch Solutions Report

Ghana is expected to experience relatively minor economic disruption from the new US tariffs, according to a report by Fitch Solutions. The country is ranked 42nd in Sub-Saharan Africa in terms of exposure to these tariff measures, indicating a limited impact on its economy. The US has imposed a 10% reciprocal tariff on Ghana, affecting industries like cocoa, textiles, and certain agricultural exports.

In its analysis, Fitch Solutions suggests that Ghana will be among the least affected nations in the region, with countries like the Democratic Republic of Congo, Somalia, São Tomé and Príncipe, Niger, and Eritrea set to face the most significant economic challenges. Equatorial Guinea is expected to see the least impact from the new tariffs, highlighting the varying levels of vulnerability across Sub-Saharan Africa.

Despite President Trump’s decision to scale back broader tariff measures, Fitch warns that the region could still face economic headwinds. The report points out the ongoing pressure on energy-reliant economies in Sub-Saharan Africa, especially with the current instability in global oil prices. Brent crude prices have fallen by about 14.9% since early April 2025, with fears of a global economic slowdown further affecting oil-exporting nations.

The situation remains uncertain as the tariffs and global economic factors continue to unfold. While Ghana’s exposure to these new tariffs is relatively small, broader regional challenges, particularly for oil-exporting countries, may still contribute to economic instability in Sub-Saharan Africa.

Source: Citi newsroom