US Edition
Lesotho’s textile factories face closures despite US tariff cut
LESOTHO, AUG 1 – Lesotho's textile sector employs 30,000 but faces closures due to a 15% U.S. tariff, higher than competitors' 10%, causing ongoing job losses, officials said.
- On Friday, Lesotho saw its U.S. export tariff reduced from 50% to 15%, but its textile industry still faces massive factory closures.
- The Trump administration announced a 50% tariff on imports from Lesotho, prompting layoffs as textile factories reported closures.
- Over 30,000 workers staff the Lesotho textile industry, including about 12,000 in U.S.-export garment factories, and Tzicc sent home most of its 12,000 workers.
- Faced with disadvantage, many factories will have to close, as Chen said Kenya's 10% tariff makes it a more favorable competitor.
- Amid regional tariff hikes, trade growth may stall, as the Office of the U.S. Trade Representative reports $240.1 million bilateral trade in 2024, while South Africa faces a 30% reciprocal tariff.
Insights by Ground AI
Does this summary seem wrong?
18 Articles
18 Articles
Coverage Details
Total News Sources18
Leaning Left9Leaning Right1Center6Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 38%
Factuality
To view factuality data please Upgrade to Premium
