Trade Talks in Turmoil: South Africa vs. U.S. Tariff Dispute Heats Up
South African President Cyril Ramaphosa opposes President Trump's 30% tariff on imported goods, arguing it's based on inaccurate trade data. Ramaphosa emphasizes negotiation readiness while highlighting existing tariffs and urging businesses to explore alternate markets. The agriculture sector warns about potential job losses.
In a developing economic standoff, South African President Cyril Ramaphosa has challenged the recent 30% tariff imposed by U.S. President Donald Trump. Ramaphosa contends that the tariff stems from an inaccurate interpretation of trade data between the two nations.
The President highlighted that South Africa's average tariff on U.S. goods stands at 7.6%, with 77% of these goods entering the country tariff-free. Despite the looming threat, Ramaphosa remains optimistic, noting President Trump's openness to modify tariffs based on upcoming trade talks.
As the U.S. is South Africa's second-largest trading partner, concerns are mounting, particularly within the agricultural sector, which risks losing 35,000 jobs if the tariffs take effect. South Africa's Agriculture Minister, John Steenhuisen, stressed the urgency in negotiating and averting the tariffs in coming weeks.
(With inputs from agencies.)
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