The introduction of a 10-percent baseline tariff on African agricultural exports and a proposed 25-percent tariff on copper imports by the United States poses a serious threat to Zambia's trade prospects, a consumer advocacy group said.
LUSAKA, April 17 (Xinhua) -- The introduction of a 10-percent baseline tariff on African agricultural exports and a proposed 25-percent tariff on copper imports by the United States poses a serious threat to Zambia's trade prospects, a consumer advocacy group said on Wednesday.
Juba Sakala, executive director of the Zambia Consumer Association, warned that the tariffs would likely reduce the competitiveness of Zambian exports in the U.S. market, cause volatility in the global copper market, and exacerbate foreign exchange shortages and economic strain.
"Consumers are already grappling with the fallout; the kwacha has depreciated against the U.S. dollar, causing inflation and driving up the prices of essential goods," Sakala said in a statement.
"Further, electricity tariffs have risen by 115 percent for high-use consumers in response to increasing energy import costs, placing an even heavier burden on households," he added.
He also expressed concern about the growing challenges facing both Zambian consumers and exporters, which will be worsened by the imposition of new U.S. tariffs.■
