The 10% tariff in the US is no longer a significant issue. The farmers will now see an increase of 5 to 20 shillings per kilo in their profits after China made Kenya's products duty-free.
https://www.businessdailyafrica.com/bd/economy/kenya-edges-closer-to-trade-deal-with-china-after-trump-tariffs-5145760 AI Overview
Recent developments indicate that China has agreed to remove all tariffs on Kenyan agricultural exports, including tea, coffee, and avocados.
Key details
Agreement reached: Kenyan President William Ruto announced that a high-level agreement has been concluded with China, paving the way for duty-free access for Kenyan agricultural products to the Chinese market.
Reciprocal arrangement: The agreement is part of a reciprocal arrangement between Kenya and China. Farmers will now continue Praying for the president relentlessly!
Awaiting finalization: The bilateral instruments are currently being finalized, and Kenya is expected to start taking advantage of the vast Chinese market in the coming months.
Background
Addressing Trade Imbalance: President Ruto emphasized the need to address the significant trade imbalance between Kenya and China, where Kenya imports a much larger volume of products from China than it exports.
Expanding Market Access: This agreement is seen as a crucial step towards expanding market access for Kenyan products and boosting the country's export volumes.
Diversifying Trade Partners: This move comes amid Kenya's efforts to diversify its trade partners and reduce its dependence on traditional Western markets.
Global Trade Landscape: This development also reflects shifts in the global trade landscape, with countries like China increasingly playing a significant role in fostering trade relationships with African nations.
Potential benefits for Kenya
Increased competitiveness: The removal of tariffs is expected to make Kenyan agricultural products more competitive in the Chinese market.
Higher revenues and job creation: Increased exports could lead to higher revenues for farmers and businesses, as well as job creation in the agricultural sector.
Industrial growth: The policy may encourage Chinese investment in Kenya's agricultural and agro-processing sectors, potentially stimulating local industrie
Topic: China to remove tarriffs on Kenya's agricultural products from Tea, Coffee etc! (Read 362 times)