The nation’s agriculture minister warned Thursday that if U.S. President Donald Trump’s proposed tariffs are implemented, Ivory Coast, the largest cocoa producer in the world, may take steps to increase the price of the commodity.
The Coffee and Cocoa Council (CCC) reports that Ivory Coast exports between 200,000 and 300,000 metric tons of cocoa to the United States annually.
As part of increased targeted taxation on dozens of nations, the Trump administration last week proposed 21% tariffs on Ivory Coast.
Agriculture Minister Kobenan Kouassi Adjoumani told reporters in Abidjan on Thursday that his nation asked Washington to reevaluate the tariffs.
What particular measures Kouassi Adjoumani was alluding to were not immediately clear. Ivory Coast has no influence over cocoa prices, which are established by the international market.
To increase revenue, the nation can, however, increase export duties on cocoa, which would increase the cost of the product for consumers.
Donald Trump declared on Wednesday that he would halt them for ninety days.
