At the start of April, President Trump declared "Liberation Day" for American business, unveiling a broad suite of tariffs against practically every country around the world. This followed similar - if less comprehensive - moves during Trump's first administration, as well as pledges during the election in which he referred to tariffs as "the most beautiful word in the dictionary".
Trump sees tariffs as a crucial way of rebalancing America's chronic trade deficit and forcing manufacturers to produce goods and employ workers in the US. "Liberation Day" had almost an immediate impact on sentiment in financial markets as the president sought to reshape the entire makeup of global trade. The VIX index, which measures risk levels and volatility on stock markets, spiked by more than 110 in the aftermath of the announcements.
Beyond considering how to respond to the tariffs directly imposed on them, of particular concern to African countries was the escalation in US-China trade tensions. A trade war between Washington, the world's largest economy, and Beijing, the world's second largest economy and largest trading partner for almost every African country, potentially has significant implications for the continent's economy and growth prospects.
"Liberation Day" saw Trump impose an additional 50 tariff on Chinese imports, raising total tariffs on some goods to over 100. China responded by announcing an additional 34 tariff on US goods and imposing export controls on rare earth minerals.
A series of further retaliations and counter-retaliations eventually saw the US impose tariffs of 145 on most Chinese goods, with Beijing implementing a slightly lower rate of 125.