Chief executive officers (CEOs) in the tourism and manufacturing sectors expect to suffer the biggest hit from US President Donald Trump’s protectionist trade policies and the non-renewal of preferential terms under the African Growth and Opportunity Act (Agoa), a new Central Bank of Kenya (CBK) survey has revealed.
The survey, which sampled the views from over 1,000 private sector CEOs, shows that overall, about two-thirds (64 percent) of the respondents expect to be negatively impacted by the recently raised US trade tariff on Kenyan goods and the expiry of the Agoa, which provides duty-free access to the US for thousands of products from 32 eligible African countries.
