Lesotho textiles to struggle even with lower 15% Trump tariff, says minister
In an executive order, Trump modified reciprocal tariff rates for dozens of countries, including Lesotho, which had been under threat of a 50% rate since April, the highest of any US trading partner.
"It's a mixed feeling," Shelile told Reuters by telephone. "The sad part is that it is still not good enough ... this will lead to job losses."
Lesotho's textiles sector is its leading export industry, and it was heavily dependent upon the Africa Growth and Opportunities Act (Agoa), a US trade initiative that offers qualifying African nations duty-free access to the US market.
On the back of that preferential tariff, textiles were the tiny mountain kingdom's biggest private employer, with some 40,000 jobs and accounted for roughly 90% of manufacturing exports, according to Oxford Economics.
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