Lesotho gets second highest US tariffs after China
No other country besides China is subject to such high US tariffs as the small, mountainous, South African country of Lesotho: 50 percent, writes the BBC.
The country has a large trade surplus with the US. In 2024, the US imported goods from Lesotho worth the equivalent of around SEK 2.3 billion, while Lesotho imported US goods worth the equivalent of SEK 27 million.
Lesotho's exports consist mainly of textiles - in recent years, it has manufactured jeans for popular American brands such as Levi's and Wrangler.
This sector will be completely wiped out by the new US tariffs, economic analyst Thabo Qhesi told Reuters.
No other country besides China is subject to such high US tariffs as the small, mountainous, South African country of Lesotho: 50 percent, writes the BBC.
The country has a large trade surplus with the US. In 2024, the US imported goods from Lesotho worth the equivalent of around SEK 2.3 billion, while Lesotho imported US goods worth the equivalent of SEK 27 million.
Lesotho's exports consist mainly of textiles - in recent years, it has manufactured jeans for popular American brands such as Levi's and Wrangler.
This sector will be completely wiped out by the new US tariffs, economic analyst Thabo Qhesi told Reuters.
Analyst: Trump will kill Lesotho
The 50 percent tariff imposed by Donald Trump on the small South African country of Lesotho will kill the country's economy. This is what Thabo Qhesi, an independent economic analyst in the capital Maseru, told Reuters.
Lesotho, which is completely surrounded by South Africa and has around two million inhabitants, is one of the world's poorest countries with a GDP of around 10,000 kronor per capita. Trump has dismissed it as "a country nobody has heard of".
According to Qhesi, the tariffs will kill Lesotho's textile sector, which manufactures Levi's and Wrangler jeans, among other things. It is the largest private employer and accounts for around 90 percent of jobs and exports in the manufacturing industry.
When the garment factories close, salespeople and landlords who provide workers with food and shelter will also lose their jobs, he continues:
- So Lesotho will die out, you could say.
Canada to impose retaliatory tariffs on vehicles: "A tragedy"
Canada will impose 25 percent retaliatory tariffs on all vehicles from the United States that do not comply with the USMCA trade agreement, Prime Minister Carney said during a press conference according to Reuters.
He also said that Canada will develop a regulatory framework to ensure that car manufacturers will avoid the tariffs as long as they keep their production and investments in Canada.
- The era of integration with the US economy is over. This is a tragedy.
Carney expects the tariffs to bring in about 8 billion Canadian dollars. These will go directly to auto industry workers and the companies that are affected, he continues.
– We will fight against the tariffs until they are removed.
Canada will impose 25 percent retaliatory tariffs on all vehicles from the United States that do not comply with the USMCA trade agreement, Prime Minister Carney said during a press conference according to Reuters.
He also said that Canada will develop a regulatory framework to ensure that car manufacturers will avoid the tariffs as long as they keep their production and investments in Canada.
- The era of integration with the US economy is over. This is a tragedy.
Carney expects the tariffs to bring in about 8 billion Canadian dollars. These will go directly to auto industry workers and the companies that are affected, he continues.
– We will fight against the tariffs until they are removed.
Inga kommentarer:
Skicka en kommentar