Former Vice President, Dr. Mahamudu Bawumia, has warned that using tariffs to address trade imbalances is a flawed strategy, describing it as historically ineffective.
In a Facebook post hours after addressing the 2025 International Democracy Union Forum in Brussels, Dr. Bawumia emphasized that trade imbalances are a result of deeper macroeconomic issues and cannot be resolved through tariff battles.
“Tariffs cannot fix macroeconomic imbalances, and any attempt to do so is bound to fail, as history has shown,” Dr. Bawumia stated.
He further highlighted that ongoing trade wars, particularly between major economies like the United States and China, are fueled by a lack of trust. Dr. Bawumia described this phenomenon as “Mutually Assured Suspicion,” warning that it often leads to suboptimal outcomes in trade negotiations.
“The biggest challenge to all these negotiations is mistrust,” he said, urging global leaders to prioritize building confidence and transparency in trade talks.
The Brussels forum brought together conservative leaders and policy experts from around the world to discuss critical global issues, including the shifting dynamics of international trade.
Dr. Bawumia’s remarks come at a time when global trade tensions have led to rising protectionism, with some nations imposing tariffs to shield domestic industries.
He called on key global players to move beyond suspicion and focus on building a rules-based system that fosters cooperation rather than conflict.
Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nandom FM 101.9, Nyatefe Radio 94.5 (Dzodze), Sissala Radio 96.3 (Tumu), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).
Listen online: asaaseradio.com, Sound Garden and TuneIn.
Follow us:
X: @asaaseradio995, @Asaase985ksi, @Asaase997tamale, @asaase1003, asaasepa1073
Instagram: asaaseradio99.5, asaase985ksi, asaase100.3, asaase99.7tamale, asaasepa107.3
LinkedIn: company/asaaseradio995. TikTok: @asaaseradio99.5
Facebook: asaase99.5, asaase985ksi, Asaase100.3, asaase99.7, AsaasePa107.3.
YouTube: AsaaseRadioXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.
#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand
