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  - WN.COM - Africa - 10/Aug 21:40

The new trade playbook: Africa’s response to US bilateralism

On 2 April, the world witnessed a trademark move from US President Donald Trump, who declared the day “Liberation Day” as he introduced country-specific reciprocal tariffs. This marked a significant shift in US trade strategy; he imposed tariffs on imports from 180 countries in direct proportion to what the US claims are barriers those countries impose on American goods. Using an unprecedented and unconventional methodology, the US calculated these tariffs by taking its trade deficit with each country, dividing it by the value of that country’s exports to the US, and then halving the result. The outcome was a sweeping set of tariffs ranging from 10% to 50%, with countries such as Lesotho at...

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