les tarifs douaniers américains affecteront une trentaine de pays africains
Impact of U.S. Tariff Increases on African Economies
Significant Changes in Trade Relations
The recent decision by the United States to increase tariffs on imports, coupled with a reduction in development aid, is poised to have substantial effects on exports from approximately 30 African countries, according to Hanan Morsy, director of macroeconomic policies, forecasts, and research at the African Development Bank (AfDB). Speaking at a high-level African Working Group meeting on global financial architecture in Abidjan, she highlighted the potential consequences of these new trade measures during the AfDB’s Annual Meetings.
The U.S. plans to raise existing tariffs by 10%, initially set to take effect on April 1, 2025, affecting 60 countries, including 30 in Africa. Although the implementation has been postponed by 90 days, Morsy warned that these tariffs would directly impact trade volumes.
Heightened Protectionism
Morsy pointed out that the level of American protectionism towards Africa significantly surpasses the barriers that African countries impose on American products. If reciprocal tariffs remain unchanged, the average weighted tariff rate could increase to 15.8%, which is 2.5 times higher than before.
Historically, the U.S. has provided duty-free access to several African nations to promote their exports. However, this access is now being called into question, particularly affecting producers of raw materials and agricultural products. Notably, countries like South Africa and Kenya may see their high-value exports particularly impacted.
Currently, African energy products and hydrocarbons are exempt from these tariff hikes. Overall, the AfDB anticipates a 21% decline in the affected exports, which will directly influence the economic growth of various African nations.
Challenges in Access to Financing
Obstacles to Funding
The discussions at the AfDB meetings also addressed the ongoing challenges African economies face in securing financing. Admassu Tadesse, CEO of the Trade and Development Bank (TDB), criticized the stringent loan conditions that impose higher interest rates than those charged by European institutions. He noted that new financial regulations have further limited access to capital for African countries.
Additionally, Tadesse pointed out the gradual withdrawal of major international banks from the continent, a shift attributed to changing global policies and certain regulations viewed as discriminatory. This retreat has left Africa increasingly isolated from the global financial system, despite its significant demographic weight as a key player in future economic dynamics.
He advocated for greater African integration within the G20 to foster a more equitable reform of the global financial architecture.
Conclusion
The issues discussed during the AfDB’s Annual Meetings underscore the pressing challenges African nations face in the wake of changing international trade policies and financing conditions. With anticipated declines in export volumes and mounting difficulties in accessing capital, it is crucial for African countries to adapt their strategies and seek collaborative solutions within the global financial framework. The ongoing dialogue among heads of state, finance ministers, central bank governors, investors, and international experts is vital for navigating these complex economic landscapes. As discussions continue through May 30, the future of African economies remains a focal point for sustainable growth and development.
