Economy
Lesotho has declared a two-year national state of disaster in response to soaring unemployment, triggered by a sharp economic blow from US-imposed tariffs. In April, former US President Donald Trump reinstated a 50% tariff on goods from Lesotho, a move that has devastated the country’s textile industry—one of its biggest employers.
Deputy Prime Minister Nthomeng Majara announced the emergency measure, noting the unemployment rate has now hit 30%, with thousands losing their jobs in recent months. The state of disaster will remain in effect until June 30, 2027, allowing the government to take urgent action to cushion the economic shock and prevent further social fallout.
Lesotho, a small, landlocked nation surrounded by South Africa, had previously enjoyed duty-free access to US markets under trade agreements like AGOA. The sudden shift has severely impacted exports and local livelihoods.
Authorities now hope to attract new investment, diversify the economy, and seek international support to navigate what they call an unfolding economic emergency.
01:23
Abiy Ahmed insists Ethiopia will not go to war over sea access
01:24
France to deploy aircraft carrier to Mediterranean to protect shipping
01:12
Trump says Iran war could last weeks, US citizens in dozens of countries urged to leave
00:57
Oil prices surge as Iran vows to attack ships in Strait of Hormuz
01:17
United States imposes sanctions on Rwanda military over fighting in DR Congo
00:57
Tensions escalate as ships attacked in the Strait of Hormuz