Trade CS Lee Kinyanjui wants Kenya to expand its global trade partners after the US slapped a 10 percent tariff on Kenyan exports. During his London speech at the Commonwealth Trade Summit, he pushed for more business between African nations.
Kenya faces new US taxes under President Trump's "economic independence" policy, which hit 25 African countries with tariffs. China was hit hardest with 54 percent taxes, Japan received 24 percent, and European Union countries faced 20 percent. Kenya might deepen connections with Europe, Asia, and Middle East countries as America remains vital for textile sales.
African countries remain Kenya's top markets, led by Uganda, Tanzania, Rwanda, and Congo. Trade between African nations stays weak at just 14 percent, as most countries import finished products instead of making their own. The AfCFTA trade agreement struggles because poor roads connect African nations.
Kinyanjui stressed that Africa must stop exporting cheap raw materials only to buy expensive finished goods made from them. He highlighted Kenya's trade of over 60 percent with Commonwealth nations. His ministry aims to double foreign investments from $800 million to $1.6 billion soon as part of Kenya's manufacturing plans.
Kenya faces new US taxes under President Trump's "economic independence" policy, which hit 25 African countries with tariffs. China was hit hardest with 54 percent taxes, Japan received 24 percent, and European Union countries faced 20 percent. Kenya might deepen connections with Europe, Asia, and Middle East countries as America remains vital for textile sales.
African countries remain Kenya's top markets, led by Uganda, Tanzania, Rwanda, and Congo. Trade between African nations stays weak at just 14 percent, as most countries import finished products instead of making their own. The AfCFTA trade agreement struggles because poor roads connect African nations.
Kinyanjui stressed that Africa must stop exporting cheap raw materials only to buy expensive finished goods made from them. He highlighted Kenya's trade of over 60 percent with Commonwealth nations. His ministry aims to double foreign investments from $800 million to $1.6 billion soon as part of Kenya's manufacturing plans.
