https://en.sputniknews.africa/20250412/russia-may-improve-trade-relations-with-africa-that-diversifies-markets-amid-us-tariffs-expert-says-1071815854.html
Russia May Improve Trade Relations With Africa That Diversifies Markets Amid US Tariffs, Expert Says
Russia May Improve Trade Relations With Africa That Diversifies Markets Amid US Tariffs, Expert Says
Sputnik Africa
Last week, Donald Trump announced reciprocal tariffs on imports to the US. The baseline rate was set at 10%, with higher rates for over 75 states, including 20... 12.04.2025, Sputnik Africa
2025-04-12T12:28+0200
2025-04-12T12:28+0200
2025-04-12T12:28+0200
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US President Donald Trump's tariffs policy presents Moscow an opportunity to strengthen and improve its trade relationship with African countries, which seek to diversify their trade partnerships, Professor Olawale Ogunkola, the director of the Trade Policy Research and Training Program at the University of Ibadan, Nigeria, told Sputnik.At the same time, the US has never been Africa's sole export market. Beyond Russia, alternatives include trade with Europe, Asia, and South-South partnerships, he pointed out.According to him, US tariffs suggest a "crude assertion" of power, which is "an ill wind that blows nobody any good," even the Americans themselves. Ogunkola also doubted that US tariffs are "the best antidote to trade deficit," because the WTO "has an inbuilt mechanism to seek remedy in case of injury."
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international, united states (us), russia, africa, north america, economy, trade, import, export, africa insight, donald trump
Russia May Improve Trade Relations With Africa That Diversifies Markets Amid US Tariffs, Expert Says
Last week, Donald Trump announced reciprocal tariffs on imports to the US. The baseline rate was set at 10%, with higher rates for over 75 states, including 20 from Africa. On Wednesday, the US president paused tariffs for 90 days for all but China, reducing the rate to 10% for all countries.
US President Donald Trump's tariffs policy presents Moscow an opportunity to strengthen and improve its trade relationship with African countries, which seek to diversify their trade partnerships, Professor Olawale Ogunkola, the director of the Trade Policy Research and Training Program at the University of Ibadan, Nigeria, told Sputnik.
"There is no doubt that African exporters will work towards diversifying markets away from the US. A comparative analysis of different markets and their market entry conditions will come into play as a guide," the expert said.
At the same time, the US has never been Africa's sole export market. Beyond Russia, alternatives include trade with Europe, Asia, and South-South partnerships, he pointed out.
According to him, US tariffs suggest a "crude assertion" of power, which is "an ill wind that blows nobody any good," even the Americans themselves.
"The trade deficit that the 'reciprocal' rates are trying to turn into a surplus is not an emergency that requires bypassing the WTO processes for seeking redress," the professor emphasized.
Ogunkola also doubted that US tariffs are "the best antidote to trade deficit," because the WTO "has an inbuilt mechanism to seek remedy in case of injury."
