The Departments of Trade, Industry and Competition (dtci) and International Relations and Cooperation (Dirco) are hosting a briefing on the United States’ reciprocal tariffs that are being imposed on South Africa.

Last week, the dtic announced a set of measures in response to the imminent 30% tariff hike on South African exports to the United States, which comes into effect this month.

These urgent interventions are part of the dtic’s ongoing commitment to protecting jobs, preserving market access in the United States, and promoting export diversification to alternate markets in Africa, the EU, Asia, Latin America, and other strategic partners.

In his weekly letter to the nation, President Cyril Ramaphosa noted that South Africa is grappling with the United States’ decision. However, he insists the country is not alone in facing mounting global trade challenges.

“Our trade relations have historically been complementary in nature. South African exports do not compete with US producers and do not pose a threat to US industry. It remains our aspiration that this should continue.

“Largely, our exports are inputs into US industries and therefore support the United States’ industrial base. South Africa is also the biggest investor from the African Continent into the US, with 22 of our companies investing in a number of sectors including, mining, chemicals, pharmaceuticals and the food chain,” he said. 

Ramaphosa added that it is important to understand that South Africa is not alone in facing high tariffs from the US.

“A number of export-reliant developed and developing economies, including several on the continent, are also grappling with these measures,” he stated.

IOL

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