In a amazing move, Zimbabwean president Emerson Mnangagwa announced a suspension of duties on products imported from the United States. This decision responds to the earlier imposition by the Donald Trump administration of 18 percent tariffs on goods from Zimbabwe.
Diplomatic motion or strategical step?
Mnangagwa informed about his decision via platform X (formerly Twitter), stressing his willingness to improve relations with the US.
"In the spirit of building mutually beneficial and affirmative relations with the United States of America, under president Trump, I instructed the Zimbabwean Government to implement the suspension of all tariffs imposed on goods originating in the United States" – wrote the president of Zimbabwe.
He besides added that "this measurement aims to facilitate the expansion of US imports on the Zimbabwe market, while promoting an increase in Zimbabwe's exports to the United States. This action highlights our commitment to fair trade and enhanced bilateral cooperation".
Effects on Zimbabwe’s economy
Washington introduced duties in consequence to Zimbabwe's 35 percent charge on American import. However, analysts believe that the impact of this decision on Zimbabwe's economy will be limited as the US is not 1 of the main trading partners of this African country.
Global repercussions – is this the end of globalisation?
Zimbabwe's decision falls within the wider context of planet trade. On Saturday (April 5), 10% duties on all goods imported to the USA entered into force, and on April 9, individual rates for the largest trading partners will apply. For the European Union, including Poland, the tariffs will scope 20%.
According to analysts, the average U.S. rate of work increased from 6-7% to 18-24 percent, exceeding erstwhile forecasts (15-20 percent). Prime Minister Donald Tusk warned that US tariffs could reduce Polish GDP by 0.4%, which translates into about PLN 10 billion.
Some experts believe that Trump's actions may mark the beginning of the end of globalisation in its present form. Is Zimbabwe trying to mitigate the effects of the coming changes?
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