Zimbabwe plans on scraping tariffs on US products
(MENAFN) Zimbabwean President Emmerson Mnangagwa has announced plans to lift tariffs on goods imported from the United States, aiming to strengthen bilateral relations between the two nations, which have been strained for years. This decision came shortly after US President Donald Trump introduced global “reciprocal tariffs” to address trade imbalances, which have affected several African countries, including Zimbabwe, where goods have been subject to an 18% levy.
Mnangagwa expressed that while reciprocal tariffs can serve as a tool to protect domestic industries, Zimbabwe prefers maintaining positive and cooperative relationships with other nations instead of adopting confrontational measures. In a statement made over the weekend, he confirmed that the Zimbabwean government would suspend all tariffs on US goods, a move designed to foster a mutually beneficial trade environment.
This action aligns with Zimbabwe's aim to expand American imports into its market while promoting the growth of Zimbabwean exports to the US. The decision highlights Zimbabwe's commitment to creating a framework for equitable trade and improved cooperation.
Zimbabwe had been under US sanctions for over two decades, imposed after the controversial land reform program under former President Robert Mugabe. While some sanctions were lifted by President Joe Biden in 2023, targeted restrictions on individuals, including Mnangagwa, remain. The sanctions have been blamed by the Zimbabwean government for its economic difficulties, a claim disputed by Washington's embassy in Harare.
In 2023, bilateral trade between Zimbabwe and the US increased by 20%, with exports from the US to Zimbabwe growing by 10.6%, while imports from Zimbabwe to the US fell by 41%.
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