The African Kingdom of Lesotho, which was demonstrated by US President Donald Trump with the highest rates, is “shocked by the recent policy in the United States”. Minister of Trade Mokhethi Shelile warned of a “massacre on the labor market”. Many other African government have expressed their concern and indignation.
The economy of the small internal is Lesotho in South Africa depends to a large extent on the export of textiles and diamonds to the US. “We have a lot of trouble,” said the Minister of Trade on Friday. He hopes for the fastest possible negotiations with the Washington government.
Trump had announced a habit of 50 percent on Wednesday about goods from the small country, which was included in South Africa. It is the highest delivery on the list of goal countries. According to Shelile, the American embassy is already involved “to clarify how and why Lesotho was included in the list of such high rates”.
Washington complains about 99 percent for import at Lesotho
In the medium term, his country wants to “increasingly strive for exports for alternative markets such as the European Union and the African continental free trade zone,” said the Minister of Trade. The two million resident was already the target in March. The Republican called the Kingdom as a country “nobody ever heard of anything”. According to the Washington government, Lesotho increases 99 percent rates for American products.
Similar to Lesotho, the punitive rates threaten the textile industry of the Southeast African island of Mauritius and Madagascar, whose rates were raised to 40 percent and 47 percent. Representatives of both governments were initially pragmatic and said they tried to negotiate bilateral negotiations.
South Africa has also been hit hard
The strongest economic power of the continent, South Africa, whose government was indignant about the new dials of 30 percent, is also seriously influenced. “Punitive rates introduced and blessed are worrying and are an obstacle to trade and shared prosperity,” said presidency. South Africa performs platinum, gold and iron, vehicles and citrus fruits in large quantities.
Other African countries, which are particularly affected by the new customs regulation, include Botsuana by 37 percent, Angola with 32 percent, Libya with 31 percent, Algeria by 30 percent, Tunisia by 28 percent and the ivory coast by 21 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
