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Trump's highest tariff is on Lesotho which is a small, rural, landlocked country in southern Africa that is among the world’s poorest. The tariff is 50%. [More inside] (archive.ph)
submitted 1 day ago by InevitableSwing@hexbear.net to c/news@hexbear.net
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I'm shocked that the NYT would have actual reportage in such an article

Governments across [Africa] are coping with a foreign debt load that exceeds $1.1 trillion. Many are spending more on repaying their loans than on health care or education.

[...]

For the most part, manufactured exports from Africa to the United States are minuscule. But to countries like Lesotho, the impact of tariffs is enormous. Exports of denim and diamonds make up more than a tenth of the country’s gross domestic product.

[...]

African nations whose major exports are energy or certain critical minerals will be spared because the administration has exempted those items from tariffs.

[...]

If inflation prompts central banks to raise interest rates, African countries with large debt burdens are in for a double whammy. Their loan payments — most of which are priced in dollars — will increase at the same time that their ability to earn foreign exchange through exports is crippled.

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[-] D61@hexbear.net 16 points 1 day ago* (last edited 1 day ago)

Not dodging the claims that the complicated process of assigning tarrif rates was just X divided by Y.

this post was submitted on 05 Apr 2025
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