President William Ruto has broken his silence on the 10 per cent tariff imposed on Kenyan exports to the US, asserting that Kenya will safeguard its interests amid the global trade war, which has prompted retaliatory import tariffs from other nations.
In what appears to be a pushback following US President Donald Trump's blitz of protectionist tariffs, President Ruto yesterday urged the continent to seize the moment and actualise the African Continental Free Trade Area (AfCFTA).
He said amid the escalating geopolitical situation, there is still an opportunity for the continent to work on a mechanism to leverage their networks in global trade.
Citing the East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa), and the Southern Africa Development Community (SADC), President Ruto said the three trading blocs have the potential to grow Africa into the single largest market in the world. "Even as other mechanisms are being rolled out by others to do what they think works best for them, we also must think about what works best for us," said the President. "And we can then have a conversation of equals." He was addressing the inaugural World Chamber Forum Africa Summit organised by the Kenya National Chamber of Commerce and Industry (KNCCI) in Nairobi.
