JOHANNESBURG: South Africa’s presidency stated on Thursday (Apr 3) that the brand new US tariffs underscore the necessity to negotiate a brand new bilateral commerce take care of 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 fee on South Africa.
“The tariffs affirm the urgency to barter a brand new bilateral and mutually helpful commerce settlement with the US, as an important step to safe long-term commerce certainty,” the Presidency stated in an announcement.
The most recent tariffs are along with the 25 per cent imposed on all automobiles and automobile components imported into the US, which is able to kick in from Thursday.
South Africa’s exports of automobiles and components into the US are estimated at over US$2 billion and may very well be exhausting hit by the levies.
“While South Africa stays dedicated to a mutually helpful commerce relationship with the US, unilaterally imposed and punitive tariffs are a priority and function a barrier to commerce and shared prosperity,” the President’s workplace added.
