South Africa Faces Trade Challenge: Seeking New Markets for Minerals Amid U.S. Tariff Threats
South Africa may need new markets for its critical mineral exports if the U.S. enforces high tariffs. Currently under investigation for new import duties, these minerals, including platinum group metals, are crucial for automobile production. The nation is seeking mutually beneficial trade terms as tensions rise.
South Africa could soon be on a scramble for alternative markets as the U.S. considers slapping high tariffs on its critical mineral exports. The country's Mines Minister, Gwede Mantashe, announced the potential need for new trading partners amid an ongoing U.S. investigation into mineral import levies.
South Africa is the top global producer of platinum group metals, vital for automobile catalytic converters. The ongoing U.S. probe is part of a strategy targeting China's dominance in these critical minerals. Minister Mantashe emphasized the need for fair trade, saying, 'We should never be bullied for our own resources.'
With a possible 30% baseline tariff looming, South Africa's trade relations with the U.S., its second-largest partner, face uncertainty. Pretoria has presented a counter-proposal to Washington, awaiting response, as it navigates a complex landscape of global trade pressures.
(With inputs from agencies.)
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