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 world reciprocal tariffs on most items imported to america 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 a necessary step to safe long-term commerce certainty,” the Presidency stated in an announcement.
The newest tariffs are along with the 25 per cent imposed on all autos and automobile components imported into the US, which can kick in from Thursday.
South Africa’s exports of autos and components into america are estimated at over US$2 billion and could possibly be onerous hit by the levies.
“While South Africa stays dedicated to a mutually helpful commerce relationship with america, unilaterally imposed and punitive tariffs are a priority and function a barrier to commerce and shared prosperity,” the President’s workplace added.
