The Chairman of the CDC-Council of Patriots (CDC-CoP), Foday N. Massaquoi, has alarmed over the economic impact of the new 10% US tariff on Liberia, warning that the policy will lead to higher prices on American products and worsen the country's struggling economy.
The new tariff, announced by U.S. President Donald J. Trump on April 2, 2025, applies to imports from over 150 countries, including Liberia. The measure took effect on April 5, 2025 and is part of a global trade retaliation policy, and Liberia has been hit with a reciprocal 10% tariff following its own 10% tax on American goods.
Massaquoi argued that the tariff will increase prices on essential goods, including food, medicine, and machinery, as businesses will be forced to pass on additional costs to consumers. With nearly 90% of Liberians depending on U.S. imports, the impact will be felt across all sectors.
"A serious government would be alarmed by this decision because it will hurt the ordinary Liberian," Massaquoi stated. He added, "Instead, Boakai and his administration are clueless about how to handle this crisis."
Massaquoi outlined four major consequences of the tariff on Liberia which include, higher prices for consumers-essential goods such as food, fuel, and pharmaceuticals imported from the U.S. will become more expensive, affecting ordinary citizens' purchasing power, increased business costs- as companies relying on American imports will struggle with higher expenses, potentially leading to job losses and wage cuts, trade diversion saying that importers may turn to cheaper alternatives from countries like China and the EU, but concerns remain over quality and reliability and inflation and economic slowdown adding that the price surge will weaken the local currency, drive inflation, and reduce economic growth, further increasing hardship for Liberians.
Massaquoi believes the Boakai-Koung administration is incapable of handling the crisis, citing its failure to address U.S. visa restrictions as proof of diplomatic weakness. "The Boakaiadministration has failed to address Liberia's growing economic problems. Instead of pushing for policies that help the people, they are busy riding luxury Lexus vehicles," Massaquoilamented.
As the tariff takes effect, Massaquoi warns that Liberia's economic crisis will worsen under Boakai's leadership. He urged citizens to brace for tougher times and called on the administration to prioritize local production and economic stability. "Since this government came into power, hardship has increased, and it's only getting worse," he concluded.
With the tariff set to drive up costs on essential goods, Liberians now face a new wave of economic uncertainty, adding to an already challenging economic landscape under the Boakaiadministration.
