A Historic Gold Announcement Is About to Rock Wall Street

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

African nations that faced steep Trump tariffs get some relief but mostly more uncertainty

GERALD IMRAY
April 10, 2025

CAPE TOWN, South Africa (AP) -- African nations that faced some of the steepest reciprocal tariffs from the Trump administration were given a moment of relief Thursday by the suspension of the duties, only for new uncertainties to hang over key businesses sending clothing and textiles, vanilla and fruit to the United States.

Lesotho, Madagascar and South Africa were threatened with some of the highest tariff rates under U.S. President Donald Trump's plan.

Lesotho, a tiny mountain kingdom, was stunned by the 50% duties that were due to come into effect Wednesday before Trump announced a 90-day pause on the levies. It was the second highest tariff rate after China.

"This will give us the opportunity to negotiate the reduction of tariffs so that the playing field is levelled," Lesotho Trade and Industry Minister Mokhethi Shelile said in response to the suspension. "It's a serious issue for us, but we are tackling it head-on."

Many like Lesotho had already sent trade delegations to Washington or were willing to negotiate, with some of their most important industries and tens of thousands of jobs hinging on the outcome.

Lesotho makes American clothing brands

Nearly half of Lesotho's 30,000 clothing and textile workers depend on jobs making apparel for American brands like Levi's, Nike, Reebok and others, which are exported to the U.S. Clothing and textiles is the biggest private employer in the country of just 2.3 million people.

Lesotho's most pressing problem is that regional competitors like Kenya and Eswatini had been assigned much lower tariffs for their exports -- some as much as 40% lower. Officials warned that the competitive disadvantage would likely shut down more than a dozen Lesotho factories and eliminate more than 12,000 jobs unless they can significantly reduce their 50% tariff rate in negotiations.

"The problem arises when countries like Eswatini receive a 10% tariff while we're hit with 50%. These are the very countries we compete against," Shelile said.

Lesotho's clothing industry had braced itself for the 50% tariffs this week, with some saying it was the sector's worst time since the COVID-19 pandemic.

"I don't fully understand what's happening, but I heard on the radio that our jobs are at risk," said machine operator Mareitumetse Lesia, who was on a lunch break during a nine-hour shift stitching together Levi's jeans in one factory. "I hope it's not true. I know what it's like to have nothing to eat."

The world's biggest vanilla producer

In Madagascar, which produces 80% of the world's vanilla, that industry "felt better" as soon as the tariffs suspension was confirmed, said Georges Geeraerts, the president of the Madagascar Vanilla Exporters Group. Madagascar had faced 47% duties on exports to the U.S.

But there were other complications. Exporters were now rushing their vanilla to the U.S. -- by far Madagascar's biggest market -- in the hope that it would arrive while tariffs are still suspended. Cargo ships take 70-90 days to reach the U.S. from the Indian Ocean island and exporters didn't know what duties might be imposed when the product got there given the abrupt changes in policy by the Trump administration.

"All our American customers have been asking us since this morning to load the vanilla onto the cargo ships, so that we can meet the deadlines," said one exporter, who spoke on condition of anonymity because they weren't authorized to speak publicly about the orders.

A 25-year-old trade agreement facing termination

South Africa's citrus industry said the original 30% tariffs for its country had threatened 35,000 jobs and the economies of entire towns that are geared to exporting oranges and other citrus fruits to the U.S. when they are out of season in North America.

The suspension of the reciprocal tariffs gave South Africa's biggest agricultural export "breathing space," said Citrus Growers' Association of Southern Africa CEO Boisthoko Ntshabele. But they also faced the new reality that the first citrus fruit of the year going to the U.S. this week from South Africa would be taxed at the 10% across the board tariff the U.S. has kept in place -- still a significant blow, though less severe than the 30% duties initially announced.

South African citrus had previously been given tariff-free access to the U.S. under the 25-year-old African Growth and Opportunity Act that benefits dozens of African nations. Many fear that agreement will not be renewed when it expires in September. South African Trade Minister Parks Tau said it would be "very difficult" to keep AGOA given the Trump administration's stance.

Ntshabele said South Africa's citrus growers were urging that their product be exempt from tariffs given they worked in tandem with U.S. farmers to provide fruit to American consumers at different times of the year.

"South African citrus growers do not directly threaten the jobs or incomes of citrus growers in places like California, Florida and Texas," Ntshabele said.

___

Associated Press writers Keketso Phakela in Maseru, Lesotho, and Sarah Tetaud in Antananarivo, Madagascar contributed to this report.

___

More AP news on the Trump administration: https://apnews.com/hub/donald-trump

Continue Reading...

Popular

A judge resisted Trump’s order on gender identity. The EEOC just fired her

The federal agency charged with protecting workers’ civil rights has terminated a New York administrative judge who , including President Donald Trump’s executive order decreeing male and female as .

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs. 

It's Time to Buy Elon's "ChatGPT Killer" - Ad

Elon Musk's new AI has been called revolutionary - even more powerful than ChatGPT. Jeff Brown believes it could redefine AI as we know it... and make investors rich. Find out how to invest.

Trump's 'Numbskull' Insult Comes Back To Bite—In Record Time

Oil prices surged after Israel's airstrikes on Iran, reigniting inflation fears and complicating Trump's push for rate cuts. Powell's caution now seems more justified.

Firms led by US military veterans deliver aid in Africa and Gaza, alarming humanitarian groups

ON A PLANE OVER UPPER NILE STATE, South Sudan (AP) — Swooping low over the banks of a Nile River tributary, an aid flight run by retired American military officers released a stream of food-stuffed sacks over a town emptied by fighting in , a country wracked .

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Sig Sauer, faced with lawsuits over a popular pistol, gets protection in New Hampshire

CONCORD, N.H. (AP) — Faced with mounting lawsuits over a popular pistol, New Hampshire-based Sig Sauer asked for — and got — protection in the form of a new state law that makes it harder to .

Oracle Launches New Defense Program To Help US Military Tap Into AI And Cloud Tech

Oracle Corp announced the Oracle Defense Ecosystem, a global initiative to enhance technology innovation for defense & government sectors.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Latin America's Hot Stocks: 3 NYSE Picks To Dodge Trade Wars, Mideast Mayhem

Latin American markets, boosted by Brazil's Bovespa & Mexico's IPC, offer diversification and stability amid tariff threats and chaos. NYSE-listed Vale, Ambev, and Cemex are compelling with high yields, low P/E ratios, and resilience to trade tensions and Middle East volatility.

DOGE-Fame 'Big Balls' Is Reportedly Leaving The Government Department Once Headed By Elon Musk — Dogecoin Price Rises

Another key figure at the Department of Government Efficiency, nicknamed “Big Balls”, has reportedly stepped down, following the exit of Elon Musk from the federal initiative meant to reduce wasteful spending.

A 64% Dividend From Gold? - Ad

Gold is soaring. But here's what no one's talking about: a way to earn a 64% dividend-paid in real cash every 30 days. No trading. No risky mining stocks. Just one simple move in your brokerage account... and you could start collecting monthly income almost instantly.

Rocket Lab Stock Is On Investor Radars: What's Going On?

Rocket Lab Corp (NASDAQ:RKLB) shares are up about 7% over the past month. Here's a look at why the stock has captured investor's attention recently.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

As Trump Weighs Options On Iran — Dow Futures Slip, Defense Stocks Tick Up In After-Hours Session

As tensions continue to flare in the Middle East, U.S. Stock futures inch lower on Wednesday evening, compounded by the Fed's decision to hold rates steady, while warning of lower economic growth and persistent inflation.

JPMorgan, Bank of America, and TD Bank Warn of Data Breaches Impacting Customer Information, Is Your Account Safe?

Several customers' critical information has been compromised, leading to data breach alerts issued by JPMorgan Chase, Bank of America, and TD Bank.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Limited Impact On Intuitive Surgical From Reprocessed Robotic Instruments: Analyst

Intuitive Surgical remains in focus as analysts weigh reprocessing risks after Restore Robotics secures FDA clearance for remanufactured tools.

Death toll in Indian plane crash climbs to 270 as search teams find more bodies

AHMEDABAD, India (AP) — Search and recovery teams continued scouring the site of one of India’s worst aviation disasters for a third day after the Air India flight fell from the sky and killed at least 270 people in Gujarat state, officials said Saturday.

The Summit That Could Reshape Your Crypto Strategy - Ad

Join 27 top crypto experts as they reveal the exact tools and frameworks they use to find winning coins. This 3-day online event is free to attend-but the takeaways could be priceless.

Ford Says Upcoming Budget EV Platform Will Rival Chinese EV Prices: Report

Ford's new affordable EV platform to match Chinese counterparts on cost, offering over 8 body styles and using Prismatic LFP batteries.

Walz: Minnesota Lawmaker and Spouse Killed In 'Politically Motivated Assassination'

Minnesota Gov. Tim Walz (D) said Saturday morning that a Democratic state legislator and her husband were killed, and another lawmaker and his wife injured, in separate "targeted shootings" at their homes.

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

Ken Rogoff Warns AI's Hunger For Power Could Send Interest Rates Soaring: 'You're Going To See Even More Spending, Not Less'

Artificial general intelligence (AGI) may not lead to the deflationary future some investors expect, according to Harvard professor and former IMF Chief Economist Ken Rogoff.

AI Bloodbath Coming on June 1st? - Ad

If you're invested in AI stocks, you need to see Elon Musk's new invention. A $2.2 trillion shakeup could hit as soon as June 1--crashing giants like Nvidia. Former hedge fund manager Enrique Abeyta reveals how to prepare.

Bye Bye Birdie: Twitter Blue Bird Logo Blown Up To Promote Online Marketplace Company

Elon Musk bought Twitter for $44 billion and rebranded it to X, auctioning off old memorabilia like the iconic blue bird logo. Ditchit, the buyer of the logo, recently blew it up in a promotional stunt.

Senate Republicans seek tougher Medicaid cuts and lower SALT deduction in Trump's big bill

WASHINGTON (AP) — Senate Republicans on Monday proposed deeper , including new work requirements for parents of teens, as a way to offset the costs of making President Donald Trump's tax breaks more permanent as they unveiled draft legislation for his

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Would you hail a 'robotaxi'? Musk bets cabs will give Tesla a lift after boycotts and sales plunge

NEW YORK (AP) — Elon Musk promised in 2019 that driverless Tesla “robotaxis” would be on the road “next year,” but it didn’t happen. A year later, he promised to deliver them the next year, but that didn’t happen either.

It's Time to Buy Elon's "ChatGPT Killer" - Ad

Elon Musk's new AI has been called revolutionary - even more powerful than ChatGPT. Jeff Brown believes it could redefine AI as we know it... and make investors rich. Find out how to invest.

North Korea opening a tourist site on its east coast next week that's key to its tourism hopes

SEOUL, South Korea (AP) — North Korea next week will open on its east coast that it called a prelude to a new era in its tourism industry, though there is no word on when the country will fully reopen its borders to foreign visitors.

Vistra's Rally Explained: Where Is The Stock Headed Next

Vistra stock's bullish structure remains intact. Here's a breakdown of what triggered the move and where VST is likely headed next.

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Lululemon's lawsuit against Costco highlights the rise of fashion 'dupes'

NEW YORK (AP) — Fashion “dupes,” or less expensive versions of high-end clothing and other accessories, are just about everywhere these days. They're also drawing some businesses into legal battles.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright traderelite.club
Privacy Policy | Terms of Service