All this will
be done in the spirit of “constructing a mutually beneficial and positive
relationship” with President Trump’s administration.
The US new
baseline tariff of 10 percent on imports became effective yesterday.
However, the
new regime of reciprocal tariffs, which will see Zimbabwean goods into the US
attracting a punitive 18 percent tariff, is scheduled for Wednesday.
“The principle
of reciprocal tariffs, as a tool for safeguarding domestic employment and
industrial sectors, holds merit. However, the Republic of Zimbabwe maintains a
policy of fostering amicable relations with all nations, and cultivating
adversarial relationships with none,” said the President on his X handle.
“In the spirit
of constructing a mutually beneficial and positive relationship with the United
States of America, under the leadership of President Trump, I will direct the
Zimbabwean Government to implement a suspension of all tariffs levied on goods
originating from the United States. This measure is intended to facilitate the
expansion of American imports within the Zimbabwean market, while
simultaneously promoting the growth of Zimbabwean exports destined for the
United States. This action underscores our commitment to a framework of
equitable trade and enhanced bilateral co-operation.”
The Office of
the United States Trade Representative says reciprocal tariffs “are calculated
as the tariff rate necessary to balance bilateral trade deficits between the US
and each of our trading partners”.
Zimbabwe stood
at US$24,1 million last year, as its imports from Harare at US$67,8 million
outstripped its US$43,8 million exports. Sunday Mail
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