JOHANNESBURG: South Africa’s presidency mentioned on Thursday (Apr 3) that the brand new US tariffs underscore the necessity to negotiate a brand new bilateral commerce cope with Washington to make sure long-term commerce certainty.
US President Donald Trump unveiled global reciprocal tariffs on most goods imported to the United States on Wednesday.
Trump imposed a 30 per cent price on South Africa.
“The tariffs affirm the urgency to barter a brand new bilateral and mutually useful commerce settlement with the US, as a vital step to safe long-term commerce certainty,” the Presidency mentioned in a press release.
The newest tariffs are along with the 25 per cent imposed on all autos and automotive components imported into the US, which can kick in from Thursday.
South Africa’s exports of autos and components into the USA are estimated at over US$2 billion and might be arduous hit by the levies.
“While South Africa stays dedicated to a mutually useful commerce relationship with the USA, unilaterally imposed and punitive tariffs are a priority and function a barrier to commerce and shared prosperity,” the President’s workplace added.
