U.S. tariffs on Botswana's diamonds cause economic contraction and prompt emergency meetings.

Botswana is facing economic turmoil after the U.S. imposed a 37% tariff on its diamond exports, a critical source of revenue. This has led to a trade deficit and a 3% economic contraction in 2024. Emergency meetings are underway to address the situation, and a high-level dialogue was held to explore economic diversification. Despite the current struggles, Botswana has been one of the fastest-growing economies globally over the past 50 years.