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#cambodia

8 posts8 participants0 posts today
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Nonilex

After delivering a potted #economic history of the country in which he bizarrely claimed that the #GreatDepression would have been avoided if high tariffs had been in place, #Trump announced that “reciprocal tariffs” would go into effect on April 9th, w/rates of 34% on goods imported from #China, 24% on #Japan, & 20% on the #EU. Some of the highest rates were reserved for export-led developing countries in #Asia: 46% on #Vietnam, 48% on #Laos, & 49% on #Cambodia.
#economy #recession #geopolitics

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Nonilex

"Presumably no one is buying Teslas there," John Denton, head of the International Chamber of Commerce (#ICC), told Reuters, an ironic reference to the improbability of #Madagascar being able to placate #Trump by buying upmarket US products.

Madagascar is not alone: the bluntness of the formula as applied to economies which cannot afford to import much from the US inevitably leads to a high reciprocal tally: 50% for #Lesotho in Southern #Africa, 49% for #Cambodia in Southeast #Asia.

#tariffs
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