Lesotho is rushing to negotiate with the U.S. over looming tariffs that could devastate its economy and cripple its key textile exports.
Lesotho scrambled to assemble a delegation to travel to Washington for talks with the United States over tariffs that threaten to wipe out nearly half of its exports, officials said, warning of a potential death blow to its economy.
U.S. President Donald Trump imposed tariffs on America’s global trading partners, disrupting decades of rules-based trade that campaigners have long said is exceptionally favorable to rich countries like the United States.
The tariff rates, set to take effect on April 9, range from 10% to 50%. Lesotho faces the highest levy on Trump’s list of target economies, with a 50% tariff on its exports.
Lesotho's exports to the United States — mostly textiles for brands such as Levi's and Calvin Klein — totaled $237 million in 2024, accounting for more than a tenth of its GDP.
Surrounded by South African mountains, the kingdom of 2 million people is among the world’s poorest countries, with a GDP per capita of $916 in 2023, according to World Bank data.
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A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
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