Washington, D.C. – As the U.S.-Africa Leaders’ Summit opens today in Washington, President Joseph Boakai faces mounting pressure to secure tariff relief for Liberia amid escalating U.S. trade measures under President Donald J. Trump’s administration.
The summit, which runs from July 9 to 11, arrives at a critical juncture, coinciding with the July 9 expiration of a temporary suspension of reciprocal trade tariffs affecting African nations.
United States Treasury Secretary Scott Bessent warned on July 6 that countries failing to negotiate acceptable trade terms with the U.S. will face increased tariffs, rising from the current 10% baseline to potentially 25% starting August 1.
For Liberia, a small economy heavily reliant on trade, the stakes could not be higher.
Liberia’s Fragile Economy at Risk.
Liberia, with a 2024 GDP of just $4.8 billion and over half its population living below the poverty line, stands to lose significantly if higher tariffs are imposed.
According to the Central Bank of Liberia’s 2023 report, the country exported $57.1 million worth of goods to the U.S., a modest figure that nonetheless highlights the importance of maintaining favorable trade access.
“Any hike in tariffs could devastate Liberian small and medium-sized enterprises, particularly those exporting agricultural products such as red palm oil, dried pepper, cassava flour, and dried fish,” said trade analyst Vita Ishmael Tue in a recent opinion piece.
“These businesses could face collapsing profit margins, job losses, and a weakened export sector.”
Leverage Minerals for Trade Concessions
President Boakai is being advised to use Liberia’s vast mineral resources as a strategic bargaining chip.
The nation holds significant deposits of iron ore, gold, lithium, and diamonds-resources increasingly critical to U.S. energy and technology sectors.
Major operations like ArcelorMittal’s Tokadeh mine and the New Liberty Gold Mine underscore Liberia’s resource potential.
“Liberia’s minerals are exactly what the U.S. is looking for to diversify away from China in its clean energy transition,” Tue wrote. “President Boakai must frame tariff removal as a win-win-low cost for the U.S., but a game changer for Liberia.”
Development at Stake
The potential fallout from increased tariffs also threatens President Boakai’s signature development blueprint-the ARREST Agenda-which focuses on agriculture, roads, education, sanitation, and technology. Reduced export revenues would undermine progress in these key areas, including infrastructure and healthcare.
“Tariff relief isn’t just about trade-it about development, jobs, and national stability,” said one senior Liberian official traveling with the president’s delegation.
A Defining Test for Boakai’s Foreign Policy
As AGOA-the African Growth and Opportunity Act-nears its September 2025 expiration, the urgency to secure continued access to U.S. markets intensifies. President Boakai is expected to lobby for both AGOA renewal and targeted tariff exemptions during his bilateral meetings.
This summit, the first high-level engagement between the Boakai and Trump administrations, could mark a turning point in Liberia-U.S. relations.
“This is Liberia’s moment to step up,” said Tue. “President Boakai must act boldly and make the case for Liberia as a reliable U.S. partner in West Africa-economically and geopolitically.”
With negotiations underway in Washington, all eyes are on President Boakai to deliver a deal that safeguards Liberia’s economic future
