Ivory Coast's Cocoa Conundrum: Tackling Tariffs

Ivory Coast, the largest cocoa producer globally, may take actions to increase cocoa prices if U.S. tariffs proposed by President Trump proceed. The move, part of a wider tariff strategy, has led Ivory Coast's Agriculture Minister to seek reconsideration from Washington. Export taxes may be adjusted to offset costs.

Ivory Coast, the world's leading cocoa producer, is considering measures to hike cocoa prices in response to proposed U.S. tariffs, according to Agriculture Minister Kobenan Kouassi Adjoumani. The tariffs, announced by President Donald Trump, have created tensions between the two countries.

At a news conference in Abidjan, Adjoumani expressed hopes for Washington to reconsider the 21% tariff, the highest levied against a West African nation. He warned that any increase in cocoa costs would be felt by American consumers.

While Ivory Coast cannot set global cocoa prices, it could impose higher export taxes to boost revenue. Meanwhile, the country plans to strengthen ties with the EU to market its cocoa there if U.S. relations sour further.

(With inputs from agencies.)