NEWS & POLITICS
South Africa seeks new markets as US tariffs set to take effect
South Africa is preparing robust countermeasures to address economic concerns, particularly for local companies facing a 30% US tariff starting August 8.
Michael Oduor
In a statement issued Monday, the South African government announced plans to engage with the Trump administration to address both longstanding and recently strained aspects of the bilateral relationship. The continent's largest economy also reaffirmed its commitment to ongoing trade negotiations with the United States, aiming to secure mutually beneficial agreements while protecting existing pacts and export interests.
South Africa is actively exploring alternative international markets to diversify its export portfolio, while pledging support for businesses hit by new tariffs. The government has committed to helping affected companies absorb the shock and implement long-term strategies for resilience and growth.
Speaking on Monday, President Cyril Ramaphosa emphasized that safeguarding South Africa's export industries remains a top priority. While engaging with the United States, he underscored the importance of expanding into new markets, particularly through increased intra-African trade.
Ramaphosa warned that the 30% tariffs could endanger up to 30,000 jobs. He assured the public that his administration is working to cushion the immediate blow to avoid broader economic and employment fallout.
