South Africa prepares for battle in the face of 'punitive' US tariffs
Starting Thursday, August 7, a 30% tax will apply to South African exports to the United States. While ensuring that negotiations with Washington continue, Pretoria is committed to diversifying its trade, particularly with its BRICS partners.
South Africa has failed to reach an agreement with Donald Trump and is among the countries hit hard by the new tariffs. Starting Thursday, August 7, a 30% tax will apply to its exports—the highest rate on the continent, along with Algeria and Libya—and this despite its already fragile economy.
Despite Pretoria's diplomatic efforts in recent months, "the US government has sidelined South African negotiators," the Business Tech website claims.
President Cyril Ramaphosa, quoted by the publication Business Day, denounced "punitive customs duties," which have only fallen by 1% compared to the initial rate of 31% announced in April. In fact, this tax could cost the country dearly: 30,000 jobs are threatened, according to the government; up to 100,000, according to the central bank governor.
Pretoria had put proposals on the table to appease the American president, such as the import of liquefied natural gas and South African private investments in the mining and waste recycling sectors. But this was not enough to appease American resentment, summarized thus by the columnist of
Courrier International
