Page 15 - Policy Economic Report - April 2025
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POLICY AND ECONOMIC REPORT
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Such tariffs, currently on pause for 90 days, were calculated at rates to balance bilateral merchandise
trade deficits between the United States and 57 of its trading partners, which range from 11% for
Cameroon to 50% for Lesotho.
The report, entitled “Escalating tariffs: The impact on small and vulnerable economies,” finds that in
many cases, reciprocal tariffs risk devastating developing and least developed economies, without
significantly reducing US trade deficits or increasing revenue collection.
The 57 trading partners concerned – 11 of them least developed countries contribute minimally to US
trade deficits, according to UNCTAD. 28 out of these 57 trading partners each account for less than
0.1% of the deficits yet could still be subject to reciprocal tariffs. Some of the 28 countries and their
reciprocal tariff rates are mentioned below: -
Figure 9: Some of 28 trading partners targeted by reciprocal tariffs (< 0.1% to total US trade deficit)
Source- UN Page | 14
APRIL 2025
