Humanoid species native to the Gamma Quadrant. The Karemma first came to notice when the Ferengi struck a deal with them to buy Tulaberry wine in 2370.  Later they became one of the few Dominion member species which engaged in trade with the Federation, although out of fear of the Dominion they went through Ferengi intermediaries rather than deal directly.  The Karemmas contact with the Dominion was entirely through the Vorta, and they regarded the Founders as semi mythical. 
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Karemma firmly believe that goods should be sold at a reasonable price, and the Ferengi promptly took advantage of this by adding various unnecessary taxes to the goods they carried. Ferengi trade practices shocked the Karemma, and they threatened to cut off trade with the Federation in 2372. This led to a meeting within Dominion space, which was disrupted when Jem'Hadar ships attacked the participants. 
Federation trade with the Karemma came to an end when the wormhole was closed in 2373, but now the wormhole has been reopened and the Dominion war ended, it is possible that relations will resume.