Saturday, May 10, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Zimbabwe and other countries that offered to drop all tariffs on U.S goods

Simon Osuji by Simon Osuji
April 10, 2025
in Business
0
Zimbabwe and other countries that offered to drop all tariffs on U.S goods
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

When U.S. President Donald Trump unveiled a sweeping policy of reciprocal import tariffs, it sent shockwaves through global markets and governments alike. The new policy, targeting more than 180 countries, including several in Africa, marks a dramatic shift in America’s trade stance.

The premise is straightforward: if a country imposes high tariffs on U.S. goods, the U.S. will respond with equal or similar duties on imports from that country. Trump declared the rollout of these measures as “Liberation Day,” portraying it as a decisive move to end what he calls unfair trade practices.

The announcement sparked immediate turbulence across the global trade landscape. Governments and investors reacted with a mix of alarm and urgency, triggering threats of retaliation, calls for negotiation, and sharp declines in global stock markets as industries scrambled to assess the impact.

In a surprising twist, however, Trump has announced a 90-day pause on the imposition of new tariffs in several countries, signalling a potential window for diplomacy.

Before this development, some countries, including Zambia, had already offered to eliminate all tariffs on U.S. goods in a bid to avoid being targeted by the new trade measures.

Related posts

BlackRock Meets With SEC to Talk Staking, Tokenization, & More

BlackRock Meets With SEC to Talk Staking, Tokenization, & More

May 10, 2025
Safaricom Crosses $3 Billion in Revenue, Driven by Ethiopia Growth and Tech Shift

Safaricom Crosses $3 Billion in Revenue, Driven by Ethiopia Growth and Tech Shift

May 10, 2025

Zimbabwe

Zimbabwe

Zimbabwean President Emmerson Mnangagwa announced the suspension of tariffs on U.S. imports, in a direct response to the Trump administration’s recent decision to impose 18% tariffs on Zimbabwean exports.

In a post on X, where he tagged both President Trump and Secretary of State Marco Rubio, Mnangagwa said the move is intended to “facilitate the expansion of American imports into the Zimbabwean market, while also promoting the growth of Zimbabwean exports to the United States.”

Israel

Despite lifting all remaining duties on U.S. imports in a last-minute bid to avoid penalties, Israel was still hit with a 17% tariff under President Trump’s sweeping new trade decree.

The Manufacturers Association of Israel warned that if the tariffs remain in place, Israeli exports could suffer an annual loss of $2.3 billion, potentially putting between 18,000 and 26,000 jobs at risk.

Vietnam

Vietnam was among the first to respond decisively, offering to remove all tariffs on U.S. imports after being hit with a steep 46% duty, one of the highest announced by the Trump administration.

Given that exports to the U.S. account for around 30% of Vietnam’s GDP, the stakes are particularly high. The move also underscores the broader vulnerability of Southeast Asian economies like Cambodia, where U.S. trade makes up roughly a quarter of GDP.

Taiwan

Taiwan adopted a conciliatory tone, with President Lai Ching-te offering a zero-tariff framework as the foundation for renewed trade talks with the U.S. He emphasized Taiwan’s willingness to remove barriers rather than reciprocate with tariffs, and pledged that Taiwanese firms would scale up investments in the American economy.

The offer comes in response to President Donald Trump’s sweeping tariff announcement, which includes significantly higher duties for numerous trading partners. Taiwan, which maintains a sizable trade surplus with the U.S., now faces a 32% tariff on its exports.

Source link

Previous Post

Hormuud Telecom CEO to step down

Next Post

Spies from China, elsewhere are wooing current and former feds, agencies warn

Next Post
Spies from China, elsewhere are wooing current and former feds, agencies warn

Spies from China, elsewhere are wooing current and former feds, agencies warn

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Total assets of commercial banks rise to $538bln in April

Total assets of commercial banks rise to $538bln in April

11 months ago
Saudi Telecom, Altice end talks over Altice Portugal deal, report says

Saudi Telecom, Altice end talks over Altice Portugal deal, report says

10 months ago
Chapa Dimba All-Stars Team Set for Spain

Chapa Dimba All-Stars Team Set for Spain

5 months ago
Yuga Labs Acquires PROOF – Caribbean News Global

Yuga Labs Acquires PROOF – Caribbean News Global

1 year ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.