CDM advocates for national export support legislation amid tariff shock

The United States has imposed a 10% tariff on Ghanaian exports. In response, the Centre for Democratic Movement (CDM) is urging lawmakers to act quickly. They want legislation to protect local exporters.

CDM recommends that Parliament establish a National Export Adjustment Facility. This fund could be financed by petroleum windfalls or levies. It would help cushion exporters and subsidize trade logistics. Additionally, it could support retooling for affected industries.

This proposal aims to lessen the tariff's negative impact on key sectors. These include cocoa processing, textiles, and agro-exports. CDM stresses the importance of long-term economic resilience.

They stated, “Let our response be measured and informed by law.” The group emphasized diplomacy and the collective good of Ghana. “Ghana first. Always,” they declared.

CDM also called for changes to the One District, One Factory (1D1F) initiative. They want it to focus more on exports to boost value addition. This would help reduce reliance on raw exports.