90-Day Tariff Suspension Boosts Mauritius Textile Industry, Says Minister Ramful

Ritesh Ramful, the Minister of Foreign Affairs and International Trade, has expressed his approval of the temporary suspension of global tariffs imposed by the Trump administration. This announcement came during the inaugural Partnership Dialogue between Mauritius and the European Union, held this morning at the Hennessy Park Hotel.

Minister Ramful emphasised that this measure is a boon for the Mauritian textile industry, which has faced numerous challenges in recent years.

However, he also urged for further negotiations to address the ongoing trade imbalance that has been a persistent concern for the nation.

In addition, Ramful highlighted the uncertainty surrounding the renewal of the African Growth and Opportunity Act (AGOA), which is crucial for Mauritius’s trade relations.

In a striking contrast, Donald Trump announced on Wednesday 9yh April a significant escalation of tariffs imposed on China, citing an alleged “lack of respect.”

These tariffs have now soared to a staggering 125%, up from 104% previously.

This announcement sharply contrasts with the 90-day suspension of import taxes granted to numerous countries, highlighting the complexities and unpredictability of the current global trade landscape.

Source: Defi Media