Ecobank Says African Trade Crucial to Avert Tariff Fallout

African nations can weather the potential fallout of US President Donald Trump’s tariffs by increasing trade among each other, according to the head of a bank that operates in 35 countries on the continent.

Trump’s tariffs will supersede the African Growth and Opportunity Act that about 30 nations used to develop export-oriented industries such as apparel. Countries in sub-Saharan Africa exported $29 billion of goods in 2023 to the US, making it the region’s largest market after China, United Arab Emirates and India.