Latest news with #MokhethiShelile
Zawya
2 days ago
- Business
- Zawya
Lesotho aims for 10% tariff on exports to US
The Lesotho government has committed to continue with negotiations to further reduce tariffs on its exports to the US. This comes after the United States revised its crippling 50% tariff on all Lesotho exports down to 15%, effective from 7 August 2025. 'While we had negotiated the revision to at least 10% which was applied to all countries, this rate [15%] will ease the burden to our exporters, particularly the textile and apparel industry,' said Minister of Trade, Industry and Business Development Mokhethi Shelile at a press briefing on Friday in Maseru. The textile industry was among the hardest hit after the US announced sweeping tariff increases in April under its America First Trade Policy. The US had temporarily reduced the tariff to 10% for a 90-day negotiation period that ended 31 July. Shelile said during this time Lesotho had made a multi-pronged effort that included direct talks with the US Embassy in Maseru, lobbyists in the US who highlighted how increased tariffs would lead to higher prices for American consumers, and a final push led by Minister of Finance Retselisitsoe Matlanyane and the Lesotho' Embassy in Washington DC. 'We are still committed to continuing negotiations so that our exports can enjoy the minimum tariffs that the US applies,' Shelile said. Until April, Lesotho had enjoyed duty-free and quota-free access to US markets through the African Growth and Opportunity Act (Agoa). That preferential agreement helped Lesotho's textile sector grow to employ thousands of people. 'The US remains one of our main trading partners … and this relationship needs continuous nurturing,' the minister said. A new SADC-USA Dialogue Forum is expected to be launched at the SADC Summit in Madagascar which runs until 18 August.
Mail & Guardian
3 days ago
- Business
- Mail & Guardian
Lesotho aims for 10% tariff on exports to US
Thetsane industrial area in Maseru is home to many garment factories. Archive photo: Sechaba Mokhethi The Lesotho government has committed to continuing with negotiations to further reduce tariffs on its exports to the United States. This comes after the US revised its crippling 50% tariff on all Lesotho exports down to 15%, effective from 7 August. 'While we had negotiated the revision to at least 10%, which was applied to all countries, this rate [15%] will ease the burden to our exporters, particularly the textile and apparel industry,' Minister of Trade, Industry and Business Development Mokhethi Shelile told a media briefing last Friday in Maseru. The textile industry was among the hardest hit after the US announced sweeping The US had temporarily reduced the tariff to 10% for a 90-day negotiation period that ended 31 July. Shelile said during this time Lesotho had made a multi-pronged effort that included direct talks with the US embassy in Maseru, lobbyists in the US who highlighted how increased tariffs would lead to higher prices for American consumers, and a final push led by Minister of Finance Retselisitsoe Matlanyane and the Lesotho embassy in Washington DC. 'We are still committed to continuing negotiations so that our exports can enjoy the minimum tariffs that the US applies,' Shelile said. Until April, Lesotho had enjoyed duty-free and quota-free access to US markets through the African Growth and Opportunity Act. That preferential agreement helped Lesotho's textile sector grow to employ thousands of people. 'The US remains one of our main trading partners … and this relationship needs continuous nurturing,' the minister said. A new South African Development Community-US Dialogue Forum is expected to be launched at the Southern African Development Community summit in Madagascar, which runs until 18 August. This article was
The Herald
3 days ago
- Business
- The Herald
Lesotho textiles to struggle even with lower 15% Trump tariff, says minister
Lesotho's modified tariff rate of 15% may still not be enough to save its textiles industry, its trade minister Mokhethi Shelile said on Friday, a day after US President Donald Trump lowered it from a devastating 50% rate he had threatened to implement earlier. 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.
TimesLIVE
4 days ago
- Business
- TimesLIVE
Lesotho textiles to struggle even with lower 15% Trump tariff, says minister
Lesotho's modified tariff rate of 15% may still not be enough to save its textiles industry, its trade minister Mokhethi Shelile said on Friday, a day after US President Donald Trump lowered it from a devastating 50% rate he had threatened to implement earlier. 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.
Eyewitness News
4 days ago
- Business
- Eyewitness News
Lesotho aims for 10% tariff on exports to US
The Lesotho government has committed to continue with negotiations to further reduce tariffs on its exports to the US. This comes after the United States revised its crippling 50% tariff on all Lesotho exports down to 15%, effective from 7 August. 'While we had negotiated the revision to at least 10% which was applied to all countries, this rate [15%] will ease the burden to our exporters, particularly the textile and apparel industry,' said Minister of Trade, Industry and Business Development Mokhethi Shelile at a press briefing on Friday in Maseru. The textile industry was among the hardest hit after the US announced sweeping tariff increases in April under its America First Trade Policy.' The US had temporarily reduced the tariff to 10% for a 90-day negotiation period that ended 31 July. Shelile said during this time Lesotho had made a multi-pronged effort that included direct talks with the US Embassy in Maseru, lobbyists in the US who highlighted how increased tariffs would lead to higher prices for American consumers, and a final push led by Minister of Finance Dr Retselisitsoe Matlanyane and the Lesotho' Embassy in Washington DC. 'We are still committed to continuing negotiations so that our exports can enjoy the minimum tariffs that the US applies,' Shelile said. Until April, Lesotho had enjoyed duty-free and quota-free access to US markets through the African Growth and Opportunity Act (AGOA). That preferential agreement helped Lesotho's textile sector grow to employ thousands of people. 'The US remains one of our main trading partners … and this relationship needs continuous nurturing,' the minister said. A new SADC-USA Dialogue Forum is expected to be launched at the SADC Summit in Madagascar which runs until 18 August. This article first appeared on GroundUp. Read the original here.
