Windhoek: The Namibian government expressed concern over newly imposed US tariffs, warning that the move has caused “turbulence in global trade” and could unfairly impact the country’s exports.
“The Government of the Republic of Namibia has taken note of the US government’s recent reciprocal tariff imposed on African countries, which includes 21 per cent tariffs on Namibia,” the Ministry of International Relations and Trade said in a statement.
“The move by the US administration has created turbulence in global trade, which undermines the commitment under the African Growth and Opportunity Act (AGOA),” the ministry said. “Unfortunately, this measure could result in unfair market conditions for Namibian products to compete fairly within the US market.”
AGOA is a non-reciprocal trade arrangement aimed at supporting development in African countries through preferential access to US markets.
In response to the US tariffs, the ministry clarified that the duties are not applied under the Most Favored Nation principle, but rather are calculated based on the US trade deficit with each country relative to the total value of imports from all trading partners, Xinhua news agency reported.
To assess the full impact of the US tariffs, the ministry said it would engage relevant stakeholders to determine the extent of the effects, adding that various strategies are under consideration to mitigate the impact, though details could not be disclosed at this stage.
The ministry further warned that the newly imposed tariffs could reduce the competitiveness of Namibian beef and fish products in the US market, potentially lowering demand and sales volumes due to price increases driven by the additional duties.
(IANS)
