Lesotho's Tariff Relief: Navigating New U.S. Trade Rates
Lesotho receives a revised 15% tariff rate from the U.S., down from a threatened 50%. The tariff affected its textile exports, leading to uncertainties and job losses. U.S. importers canceled orders, prompting Lesotho's industry to seek alternative markets amid the trade challenges.
The U.S. administration, headed by President Donald Trump, has adjusted Lesotho's tariff rate to 15%, marking a significant reduction from the initially threatened 50% rate.
Despite this adjustment, officials in Lesotho remain uncertain about the criteria used to justify such rates, especially given the country's own 99% tariff on American goods.
The textile industry in Lesotho, facing order cancellations and layoffs, is now urged to diversify export markets to mitigate potential ongoing trade challenges.
(With inputs from agencies.)
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