Trump’s tariffs hit Lesotho, Africa’s “denim capital” #shorts #lesotho #trump #tariffs #textile

Economic Impact of Tariffs - The textile industry in Lutu faces challenges with workers earning as little as $1,800 per year [1] - The Prime Minister of Lutu declared a 2-year state of disaster for the country's economy after tariffs were imposed [2] - Initial tariffs were set at 50%, among the highest globally, later revised to 15% [2] - Potential shutdown of factories could result in 30,000 to 40,000 job losses [3] Trade Negotiations - Lutu is negotiating with the US government for a further tariff reduction, potentially to 10% or zero [3]