Zimbabwe to turn out to be first nation set to formally cave on Trump’s tariffs
Zimbabwe is ready to turn out to be the primary nation to formally fold on the US’s new international tariffs, with its president saying he’ll droop the nation’s personal taxes on American items to foster “a optimistic relationship.”
“Within the spirit of setting up a mutually useful and optimistic relationship with america of America, I’ll direct the Zimbabwean authorities to implement a suspension of all tariffs levied on items originating from america,’’ Zimbabwe President Emmerson Mnangagwa wrote on X on Saturday — simply days after the US imposed 18% tariffs on its exports, primarily tobacco and rice, to America.
“This measure is meant to facilitate the enlargement of American imports inside the Zimbabwean market whereas selling the expansion of Zimbabwean exports destined for america,” Mnangagwa mentioned.
“The precept of reciprocal tariffs, as a instrument for safeguarding home employment and industrial sectors, holds benefit,’’ the African nation’s president mentioned.
“Nonetheless, the Republic of Zimbabwe maintains a coverage of fostering amicable relations with all nations, and cultivating adversarial relationships with none.”
It isn’t clear how the Trump White Home could reply to the transfer. It didn’t instantly reply to a request for remark Monday.
Trump mentioned final week that Vietnam is on the verge of dropping its US tariffs, and Taiwan additionally indicated it might accomplish that as nicely.
A complete of about 50 nations have already reached out to the White Home to attempt to make some sort of deal, US Commerce Secretary Howard Lutnick mentioned Sunday.
Lutnick mentioned all the tariffs are going ahead, no less than for now.
Extra reporting by Diana Glebova
