Which countries are most exposed to … Trump – what do duties « burn » most
The additional 10% US duties that have come into force today have led to the highest drop in stock markets since 2020, have caused disruption to markets seeing a recession and have left the poorest countries exposed to serious risks.
Narrow US trade allies are also expected to be a major blow.
According to the US International Trade Service for 2024, Mexican exports to US reached nearly $ 510 billion. In the next place is China with $ 439 billion export, Canada with $ 413 billion, Germany with $ 160.4 billion and Japan with $ 148 billion.
Value of products exported to US in 2024/ Source: Al Jazeera
Canada and Mexico, the largest US trade partners, are expected to be more affected by tariffs due to the large US export dependence.
On the contrary, China and the EU Although they have high value exports, the percentage of their exports to the US is much smaller.
China’s total exports to the US is less than 20% of all its exports while the corresponding EU export rate. It reaches 20%.
Mexico and Canada send 80% of export products to the US.
At the same time, Trump imposed duties that reach up to 50% in poor countries. The US Commercial Representative published a mathematician type in Greek letters to give some kind of science to the numbers announced by Trump, and left the economists.
The mathematician press released by US Commercial Representative
« This is for economics what is the creation of biology, astrology for astronomy, » former Finance Minister Larry Samers wrote in X.
« There are so many mistakes with this approach that it is difficult to know where to start, » Nobel laureate Paul Krugman, a trade economist and a frequent critic of Trump, wrote in his blog.
The ‘black list’
« Cambodia is charged 49%, Vietnam with 47%, Laos with 48%. These are the poorest countries in Southeast Asia who are affected by the highest duties for no reason, « Jayant Menon, a senior associate of the Iseas-Yusof Ishak Institute, told Al Jazeera and added:
« Cambodia and Vietnam have already written to the president asking for his grace and offering further reductions to their own duties. We will see if this will work. «
The most affected country is the tiny kingdom of Lesoto that borders all sides with South Africa and has a population of 2.3 million.
Textile is one of the key industries in the country, exporting about 75% of its production in the US. In addition to clothing, exports of lesotto include diamonds and other goods.
Commerce Minister Mokhethi Shelile said the Lesoto would explore new markets and use the African mainland free trading zone to increase exports to favorable destinations in Africa, but acknowledges that this takes time.
He said he was worried about the possible closure of textile factories, which employ about 12,000 people in Lesoto.
Donald Trump, who imposed a 50% duty on Lesoto, had recently stated that it was a country that « no one has heard ». Trump referred to Lesoto during a speech in Congress as he analyzed some of the US spending abroad, which he cut to consider them « terrible waste ».
« Eight million dollars to support the LOATKI+ community in the African country of Lesoto, which no one has ever heard, » he said, provoking the cheers of his audience.
Among the 14 countries burdened with the highest duties is Serbia, the only European on Trump’s blacklist.
