Lesotho Declares State of Disaster Over Unemployment
(MENAFN) Lesotho has announced a two-year state of disaster in response to soaring unemployment rates triggered by US President Donald Trump’s April decision to apply a 50 percent tariff on imports from the African country.
This drastic measure aims to address the severe economic challenges stemming from the tariff’s impact.
Deputy Prime Minister Nthomeng Majara revealed the declaration as the nation grapples with an unemployment rate reaching 30 percent, alongside widespread job losses affecting many citizens.
The state of disaster is intended to facilitate all necessary actions to alleviate the negative consequences of rising unemployment and will remain in effect until June 30, 2027.
Official statistics indicate that youth unemployment in Lesotho, a country with around 2.3 million inhabitants, has surged to nearly 50 percent.
This alarming figure underscores the severity of the economic strain caused by the tariff.
In a March address concerning foreign aid disbursements funded by the US Agency for International Development (USAID), Trump referred to Lesotho—recipient of USD8 million in aid—as “a country nobody has ever heard of.”
Despite this dismissive comment, Lesotho became the African nation most severely affected by the tariffs.
The 50 percent tariff, part of what Trump termed "reciprocal tariffs" imposed in April on imports from numerous countries, placed Lesotho at the top of the list for the highest US tariff rate.
Though the tariff was eventually suspended, its initial enforcement severely disrupted Lesotho’s economy, particularly because the United States is the country’s second-largest export market, leading to significant job losses.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
