The looming threat of tariffs by United States President Donald Trump is set to feature heavily in the Central Bank of Kenya's Monetary Policy Committee meeting scheduled for August.
Trump's administration has been sending out official letters to numerous trading partners, outlining specific tariff rates that will take effect on August 1 if bilateral trade deals are not reached.
These rates vary, with some countries facing duties ranging from 20 per cent to 30 per cent. Countries like Japan, South Korea, South Africa, Kazakhstan, Malaysia, Laos, Myanmar, the Philippines, Brunei, Algeria, Libya, Iraq, Moldova, and Sri Lanka have received these letters from the US.
For example, Japan and South Korea face a 25 per cent tariff, while Sri Lanka, Algeria, Libya, and Iraq face 30 per cent.
