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Africa News of Friday, 4 April 2025

    

Source: www.ghanawebbers.com

Lesotho is world's second worst-hit country by Trump's tariffs

The tariffs, set to take effect from April 5, could jeopardize trade agreements like AGOA The tariffs, set to take effect from April 5, could jeopardize trade agreements like AGOA

US President Donald Trump has imposed a 50% tariff on imports from Lesotho, marking the second highest rate globally after China.

Lesotho, which exports mainly diamonds and textiles to the US, faces economic uncertainty as these new tariffs could severely impact its trade, which accounts for over 10% of its GDP.

Other African countries, including Madagascar (47%), Mauritius (40%), and South Africa (30%), are also affected. Trump justified the move as a step toward “economic independence,” arguing that the US has been exploited for decades.

The tariffs, set to take effect from April 5, could jeopardize trade agreements like AGOA.

South Africa’s presidency has condemned the measure, warning it could strain economic ties and disrupt Africa-US relations.