Zimbabwe Temporarily Exempts U.S. Goods from Import Duties
In light of the Trump administration's decision to impose large-scale import tariffs on almost all trading partners, major countries such as China, the EU, and Canada are considering retaliatory measures. However, other countries have taken a different approach, prioritizing dialogue. The landlocked country of Zimbabwe in southern Africa has chosen to suspend import duties on all American products.
Following the U.S. decision to impose large-scale import tariffs on almost all trading partners, global economic chaos ensued. While major economies like China, the EU, and Canada have vowed to retaliate, Zimbabwean President Emmerson Mnangagwa chose to exempt all imports from the United States from taxes to appease President Trump. Trump had just imposed an additional 18% tariff on imports from this small southern African country.
Zimbabwean President Emmerson Mnangagwa announced this news on Elon Musk's social media platform X. He stated that he would "instruct the government to temporarily suspend the imposition of tariffs on all goods imported from the United States." Zimbabwean President hopes this will influence President Trump's stance. Trump had recently imposed an 18% additional tariff on imports from this southern African country.
In 2024, Zimbabwe's trade volume with the United States was $110 million, which is negligible for the world's largest economy but significant for Zimbabwe. Given its exports of tobacco, sugar, and iron ore, the trade balance tilts in favor of Zimbabwe. In 2024, the surplus was $24 million, three times that of the previous year.
Source: rfi
Original article: https://www.toutiao.com/article/1828800384168131/
Disclaimer: This article represents the author's personal views only.