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International Business Times
International Business Times
Science

African Development Bank Chief Warns Of Tariff 'Shock Wave'

Akinwumi Adesina Africa the African Development Bank Donald Trump United States AfDB
Tariffis on 47 African countries will cause local currencies to weaken, says AfDB President Akinwumi Adesina (Credit: AFP)

An onslaught of tariffs by the United States will send "shock waves" through African economies, the president of the African Development Bank said on Friday, warning of reduced trade and higher debt-servicing costs.

The comments come as US President Donald Trump has upended global markets by pushing -- and then retracting -- a slew of tariffs in recent days.

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