Madagascar Turns To UAE To Protect Economy From Trump Tariffs | Firstpost Africa | N18G
Madagascar Turns To UAE To Protect Economy From Trump Tariffs | Firstpost Africa | N18GThe Indian Ocean island nation of Madagascar is rushing to protect its economy from steep tariffs by the Donald Trump administration. For this, it is turning to the UAE, aiming to make the Gulf powerhouse its economic lifeline. Madagascar is seeking to boost investments from the UAE in tourism and energy sectors. Madagascar and the UAE are also in talks about potential investments in sugar and vanilla processing plants, luxury hotels for tourists and energy projects. Madagascar is also in talks with Emirates Airlines to start daily direct flights between Dubai and Antananarivo. In April, US President Trump threatened a 47% reciprocal tariff on Madagascar but later replaced it with a 10% universal levy. Now as Trump's tariff deadline looms, Madagascar is rushing to shield its economy.
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