By Kizito CUDJOE
Former Finance Minister and Member of Parliament for Karaga, Dr. Mohammed Amin Adam, says recent policy decisions by the Trump Administration may pose challenges to Ghana’s development but also present opportunities the country can capitalise on.
“The reinstatement of Trump Administration policies, including freezing funds to USAID, imposing tariffs on major trading partners, mass deportations and withdrawing from the Paris Agreement on climate change, poses significant challenges for many countries,” he said.
Dr. Adam noted that USAID has been a crucial partner in Ghana’s development, supporting projects in healthcare, education and infrastructure.
“Freezing these funds would result in Ghana losing approximately US$150million annually. Given the constraints of the national budget, this could lead to reductions in development aid, putting essential projects at risk of cutbacks or cancellations, particularly in sectors critical to Ghana’s growth,” he said.
He also noted potential indirect impacts of U.S. trade policies, particularly tariffs imposed on Canada and Mexico. “While these tariffs may not directly target Ghana, global trade disruptions could shift market dynamics, reducing demand for Ghanaian exports.
“Affected countries might seek alternative markets, intensifying competition for Ghanaian products and disrupting supply chains that local businesses rely on,” he said.
In a statement in Parliament on the implications of Trump Administration policies for Ghana’s economic development, Dr. Adam stressed the need for proactive strategies to mitigate risks and identify new opportunities amid shifting global economic conditions.
He stated that by strategically aligning with the administration’s policies, Ghana can promote growth, attract investments and strengthen its economic relationships with the United States.
“One of the key areas where Ghana can benefit is through enhanced trade and investment relations. The Trump Administration’s focus on bilateral trade agreements presents an opportunity for Ghana to negotiate favourable terms that boost exports and attract American investments.”
He added that by emphasising sectors such as agriculture, manufacturing and technology, Ghana can position itself as a valuable trade partner.
He recognised that Ghana’s agricultural sector has immense growth potential, and the Trump Administration’s policies could provide a significant boost. By increasing access to the American market, Ghana can export more cocoa, coffee and other agricultural products; thereby generating foreign exchange and supporting rural development.
Additionally, he said collaboration on agricultural technology and best practices could enhance productivity and sustainability.
He noted that the Trump Administration’s focus on revitalising American manufacturing offers Ghana a chance to attract investments in its manufacturing sector. By encouraging joint ventures and partnerships, he posited that Ghana can gain technology, develop skills and create jobs. Special economic zones and industrial parks could also provide a favourable environment for American businesses to invest.
He observed that due to Ghana’s non-aligned status, the benefits of the new U.S. policies—particularly President Trump’s preference for bilateral partnerships— should not overshadow its quest to harness the potential of multilateralism.
He maintained that Ghana can leverage multilateral cooperation to drive its economic agenda while fostering a robust relationship with the United States.
Furthermore, he said multilateral engagements, particularly through organisations such as the African Union (AU), the Economic Community of West African States (ECOWAS) and the United Nations (UN), can provide Ghana with platforms for economic collaboration and development.
He added that by actively participating in these organisations, Ghana can attract investments, secure developmental aid and benefit from shared resources and expertise.
“The new Trump Administration’s policies present numerous opportunities for Ghana to enhance its economic development. By strategically aligning with these policies while embracing multilateralism, Ghana can attract investments, boost trade, develop infrastructure, improve education and promote tourism. It is crucial for Ghana to actively engage with the United States, leverage its strengths and build partnerships that drive sustainable economic growth and prosperity.”
Beyond these, the former Finance Minister also proposed key strategic interventions that Ghana needs to adapt to withstand the effects of President Trump’s policies.
These include expanding market access by seeking new trade agreements and partnerships with other regions, such as the European Union, Asia, the Middle East and Africa; promoting export sectors by investing in and supporting industries with high export potential, such as agriculture, textiles and technology; reducing dependence on aid by supporting local industries and encouraging self-reliance and job creation; and investing in infrastructure to improve production and distribution efficiency.
Others include diversifying funding sources by promoting foreign direct investment (FDI), fostering public-private partnerships and tapping into diaspora bonds; enhancing diplomatic engagement through active participation in the African Union, the United Nations and other multilateral organisations; and strengthening regional security cooperation through intelligence sharing and border security initiatives with ECOWAS.
He also proposed investment in human security by prioritising education, healthcare and social services to create a stable society resistant to extremism.
