China, South Korea, Canada and others are not the only economies greatly anxious about their future trade relations with the United States if Republican front runner Donald trump is elected into the Oval Office later this year.
Uganda too has expressed her fears that the loud mouthed candidate if successful might limit her exports to the world super power.
President Yoweri Museveni, while addressing Members of Parliament from his Ruling National Resistance Movement party on Tuesday in Kyankwanzi where there are on a ten day post election retreat, aired out his concerns about Uganda’s future with the US under the Trump Administration.
Museveni told the MPs that while he likes Trump for his candor, if elected President he was unlikely to help better Uganda’s trade relations with the US.
Speaking to Uganda’s worryingly declining exports and unfavorable balance of trade, Museveni noted; “The United States could limit our exports there especially under Mr. (Donald) Trump, who l like because he calls a spade a spade.”
Donald Trump according to analysts has boosted his support by tapping into the growing anger among US voters who think free-trade policies have devastated US communities.
Through his campaigns, he has already outlined plans to clamp down on what he terms as “horrible, horrible” trade deals with other nations.
Recently he called for higher (45 percent) tariff on Chinese goods, terming the Asian nation as the US’s greatest economic adversary.
Uganda exports to the US largely agricultural products, which include coffee, cocoa, base metals, and fish.
Last year, Uganda exported to the US goods totaling to $6.2million and imported goods worth $89.6 from there.
Uganda is the 134th largest export economy in the world and the 77th most complex economy according to the Economic Complexity Index.
Museveni, during his lecture to the legislators in Kyankwanzi, expressed discomfort that the country is not even faring better in the region.
“Uganda spends about $700million annually buying Kenyan goods,” he noted, “Yet Kenya now spends 200m USD buying Uganda’s goods; compared to $12million USD in 1986.”
Uganda’s top export destinations are Kenya, the Democratic Republic of the Congo, South Sudan, Rwanda and Sudan.