–BY Daniel Bampoe
Former Vice President of Ghana, Dr. Mahamudu Bawumia, has once again placed Ghana on the global map as he joined world leaders at the 2025 International Democracy Union (IDU) Forum held in Brussels, Belgium.
The forum, a flagship gathering of center-right and conservative policymakers, brought together influential figures to deliberate on pressing geopolitical and economic challenges under the theme: “Trade Wars, Tariff Battles and the New Geoeconomic Order: How to Restore Stability.”
Dr. Bawumia, known for his background in economics and policy innovation, featured on a high-level panel addressing the growing tensions and trade disputes that have defined global economic relations in recent years—particularly between major economic blocs such as the United States and China.
Drawing from both global economic history and practical policy experience, Dr. Bawumia warned against the overreliance on tariffs as a corrective tool for deeper structural issues.
“Trade imbalances,” he noted, “are ultimately the result of macroeconomic imbalances. Tariffs cannot fix these. History is replete with evidence that attempting to correct macroeconomic distortions with tariffs fails.”
Delving deeper into the current global atmosphere surrounding trade negotiations, Dr. Bawumia highlighted what he termed as “Mutually Assured Suspicion”—a persistent mistrust between major trading partners, especially evident in recent years amid escalating tariff wars.
This distrust, he argued, undermines negotiations and creates a climate where suboptimal outcomes become the norm.
“The heart of trade wars and tariff battles is not just economics,” he said, “but the erosion of trust. If the global community is to restore stability, addressing this mutual suspicion must be a priority.”
Dr. Bawumia’s remarks come at a time when Ghana, like many other developing economies, is navigating the shifting sands of global economic policies, currency volatility, and the need for resilient trade partnerships.
His participation at the forum also marks an ongoing role on the international stage after serving as Vice President under the Akufo-Addo administration from 2017 to 2025.
Previously, Dr. Bawumia earned international attention for his role in Ghana’s digital transformation agenda, spearheading initiatives in mobile money interoperability, digital property addressing, and identity systems.
He has been a regular voice at global economic platforms, including the World Economic Forum and IMF events.
The IDU Forum in Brussels convened leaders and thinkers from across Europe, North America, Africa, and Asia, aiming to forge consensus on restoring order and predictability in international trade amidst the rise of economic nationalism and protectionist policies.
