The Central Bank of Kenya (CBK) Governor Kamau Thugge now says Kenya is set to lose Ksh12.8 billion ($100 million) annually in exports to the United States following President Donald Trump's decision to impose a 10 per cent reciprocal tariff on Kenyan exports to America.
Speaking during the Monetary Policy Committee (MPC) meeting held on Wednesday, April 9, Thugge clarified that the impact of Trump's new levy on the country's exports would not have any significant impact on Kenya's economy.
According to him, Kenya generates roughly Ksh84 billion ($650 million) in exports to the US annually; however, this amount could be marginally impacted by the new tariffs.
The CBK governor also maintained that the new export taxes by Trump's administration would not have any impact on the local currency, which has been stable against the US currency for a better part of last year and this year.
