Africa-Press – Angola. Angolan economist Flávio Inocêncio told that the tariffs announced by the United States this week will have a “minimal impact” on Angola, given that the main export, oil, will not be affected.
“Angolan exports depend very little on the United States of America [USA]. What Angola exports most to that country is oil, worth around 700 million dollars [633 million euros], and even there it is exempt,” said the Angolan economist.
Speaking to Lusa from Luanda, Flávio Inocêncio admitted that if this African country “had a more diversified economy, the impact would already be different”, but this is perhaps one of the few cases in which the strong impact of oil on the Angolan economy is an advantage.
According to the most recent official data cited by the economist, Angola exported 783.7 million dollars (708 million euros) in oil to the United States, well below the more than 16 billion dollars, equivalent to almost 14.5 billion euros, exported to China, Angola’s main trading partner.
“The US was the biggest customer of Angolan oil 20 years ago, but the map has changed completely, today almost everything goes to Asia”, said the economist, highlighting that purchases from the US represent two billion dollars (1.8 billion euros), much lower than the 20 billion dollars (18 billion euros) in products and services bought from China and the 17 to 18 billion dollars (15.3 to 16.2 billion euros) imported from the European Union (EU).
The new rules presented at the beginning of the week by Donald Trump increase tariffs on Angolan products to 32%, compared to the average customs rate of 11%, “but as Angola has not increased its customs tariff, the new tariffs have no impact on Angolan products sold to the US”, said Flávio Inocêncio.
In addition to Angola, the other members of the Community of Portuguese Language Countries (CPLP) covered by the measure announced by the US President will register tariffs of 16% in Mozambique and 13% in Equatorial Guinea, with the rest (Brazil, Guinea-Bissau, São Tomé and Príncipe, Cape Verde and East Timor) facing tariffs of 10%, while Portugal is included in those that fall on the EU.
US President Donald Trump announced on Wednesday new US tariffs of 20% on EU imports, in addition to the 25% tariffs on the automotive, steel and aluminum sectors.
Trump’s new tariffs are an attempt to boost U.S. industry while punishing countries for what he says are years of unfair trade practices.
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