All nations will now have to pay at least a 10% tariff on goods exported to the US, in what “The Don” calls Liberation Day.
He has also claimed that some countries are worse offenders in terms of trade imbalance and will face even higher tariffs. These include: China: 34%, South Korea: 25%, India: 26%, Vietnam: 46%, Taiwan: 32%, Japan: 24%, Thailand: 36%, Switzerland: 31%, Indonesia: 32%, Malaysia: 24% and Cambodia: 49%.
It’s interesting to see the EU and China reacting with dismay, and they will undoubtedly respond with their own countermeasures. Interesting times ahead.
Amidst all this geopolitical drama, I can’t help but wonder how Kenya will position itself in the global realignment. Some of these “Tiger economies” will face tough times, yet Kenya has an abundance of skilled labour, land, and relative stability. We could capitalise on this shift, particularly in manufacturing. However, high energy costs and poor leadership remain significant obstacles.
I’m not sure how best to expand on this, but a recent purchase gave me something to think about—I bought a phone manufactured in Vietnam, owned by a South Korean firm, and no longer assembled in China. This shift happened because China’s growing middle class has moved away from low-wage assembly jobs. Opportunities ziko but tukizuba zitatupita tu.
Anyway, let’s see how the situation unfolds.