The continuing tariff warfare initiated by U.S. President Donald Trump in opposition to international locations equivalent to Canada, China, Mexico, and the European Union affords beneficial classes for African leaders, in keeping with Tunji Andrew, CEO of Awabah.
Talking on Nairametrics’ podcast, Drinks and Mics, Andrew highlighted the significance of prioritizing nationwide pursuits in policymaking.
Andrew, whereas expressing his reservations about Trump’s persona, recommended the U.S. President’s “America First” strategy.
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“That is what I discover fascinating about Trump. He’s the primary particular person to placed on his chest, ‘America First.’ And I don’t consider any nation on the planet ought to suppose any otherwise. Love your neighbor as your self. First, love your self, after which love your neighbor equally. So, should you’re going to like Canada, should you’re going to like Mexico, you must give your self that equal quantity of affection,” Andrew acknowledged.
He added, “I don’t just like the man’s persona, however what he’s doing for the nation is one thing I consider that a number of African leaders can borrow a leaf from, standing robust on making their nation nice.”
The escalating tariff warfare has seen retaliatory measures between world financial powerhouses. On Wednesday, Trump introduced a major escalation within the commerce dispute with Canada, doubling tariffs on Canadian metal and aluminum from 25% to 50%. This transfer was in response to Ontario’s 25% surcharge on electrical energy exports to a number of U.S. states.
In retaliation, Canada introduced it might impose 25% tariffs on over $20 billion value of U.S. items, together with metal, aluminum, computer systems, sports activities tools, and forged iron merchandise. Canadian Finance Minister Dominic LeBlanc confirmed the measures throughout a press convention.
Concurrently, the European Union unveiled its personal retaliatory commerce measures, imposing tariffs on a spread of business and agricultural merchandise in response to the U.S. duties on metal and aluminum imports. The EU’s new tariffs, efficient April 1, purpose to counterbalance the Trump administration’s 25% levy on all metal and aluminum imports.
Andrew criticized Canada’s threats to chop electrical energy exports to the U.S., describing them as “ridiculous.”
He remarked, “What America has been doing to Mexico and Canada has been enjoying, primarily, Large Daddy for a protracted whereas. You’ve simply given them a market, lots of of tens of millions of individuals to promote to for years. You have got created a dependency, and your financial system is starting to endure for it in the long run. I imply, take a look at the threats. You’ll swap off lights to folks in America. It’s ridiculous. Individuals which were supplying you with income, billions in income for years.”
Defending Trump’s strategy, Andrew acknowledged, “There may be nothing fallacious in Trump making an attempt to guard America’s financial system. He has chosen to say that is the tariff I wish to put to guard my very own financial system. Why is that this such a foul factor?”
Whereas the EU stays agency in its retaliatory stance, the UK, having exited the bloc, has opted in opposition to imposing comparable measures. As an alternative, the UK expressed disappointment at Washington’s tariff resolution.
Trump’s 25% tariffs on metal and aluminum apply to all imports of the metals, not simply these from Canada. Following their enactment early Wednesday morning, the European Union swiftly introduced its personal tariffs on over $28 billion value of U.S. items, set to take impact in April.
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