The immediate past Minister of Finance of the republic of Ghana Dr Mohammed Amin Adam, has raised concerns about the impact of the President Trump’s policies on Ghana’s economic development.
In a statement on the floor of Parliament on Wednesday 12 February, 2025, the lawmaker he outlined potential challenges posed by the reinstatement of key U.S. policies, including the freezing of USAID funds, the imposition of tariffs, and mass deportations.
Dr. Amin Adam who is also the The Member of Parliament for Karaga, highlighted that USAID has been a crucial partner in Ghana’s development, funding projects in healthcare, education, and infrastructure. The withdrawal of these funds, he noted, could result in Ghana losing approximately $150 million annually, placing a strain on essential development programs.
While U.S. tariffs are primarily targeted at Canada and Mexico, the MP cautioned that global trade disruptions could have indirect effects on Ghana. He explained that shifts in trade dynamics might increase competition for Ghanaian exports, affecting the country’s economic stability. Additionally, the deportation of immigrants from the U.S. could reduce remittances, which serve as a significant source of foreign income for many Ghanaian families.
Despite these challenges, Dr. Amin Adam acknowledged that the Trump administration’s focus on bilateral trade agreements presents an opportunity for Ghana to negotiate favorable terms that could boost exports and attract U.S. investments. He pointed to agriculture, manufacturing, and technology as sectors that could benefit from stronger economic ties with the U.S.
He further urged Ghana to maintain a balanced approach by embracing multilateralism while strengthening diplomatic relations with the U.S. He emphasized the importance of leveraging international partnerships through organizations like the African Union (AU), the Economic Community of West African States (ECOWAS), and the African Continental Free Trade Area (AfCFTA).
To mitigate the impact of U.S. policies, the MP proposed several strategic interventions, including diversifying trade partners, enhancing domestic production, securing alternative funding sources, and improving regional security cooperation.
“As a nation, we must remain proactive in addressing these economic shifts,” he stated. “By fostering strong trade relationships and maintaining diplomatic ties, Ghana can navigate these challenges and harness opportunities for sustainable growth.”
The statement underscores the urgency for Ghana to strengthen its economic resilience amid shifting global policies, ensuring that the country remains competitive in international trade and development.
