Minister in the Presidency Khumbudzo Ntshavheni has welcomed the progress made so far in preparation for the upcoming G20 meeting to be held in South Africa later this year. 

Addressing the media on the Cabinet meeting outcomes, Ntshavheni says approximately 80 of the 132 planned official meetings on the G20 calendar have already taken place.

She says the negotiations of the Ministerial outcome documents and related high-level outcomes have begun. 

“South Africa has introduced the Cost of Capital Review, which is a critical step toward creating a fairer global financial system that enables developing countries to invest in infrastructure, healthcare, education, and climate resilience. All the recognised G20 Engagement Groups have presented their work programmes and priorities.” 

Minister in the Presidency Khumbudzo Ntshavheni briefs the media: 

US tariff

With the deadline for the 30% US tariff on most South African imports approaching, the government is hopeful that the country will reach a trade deal with its American counterparts soon.

Minister Ntshavheni says President Cyril Ramaphosa is committed to reach a deal as soon as possible to avert a jobs bloodbath as a result of the tariffs. She says the lines of communication with the US remain open, with Ramaphosa and his US counterpart Donald Trump speaking on the phone as recently as Wednesday morning.

She says negotiations with the US, led by Minister of Trade, Industry and Competition, Parks Tau, with the support of other ministers like Ronald Lamola, John Steenhuisen, and others in the economic cluster, are ongoin,g and only once a deal could be finalised, will a review on the tariffs be made.

” The principle is that the room for engagement is there, and the President continues to engage.  And you’ll recall that in May, he led the delegation to Washington to open that room for negotiation. And it’s from that meeting, the working visit, that there was an assurance that as soon as we reach a deal, then there will be a review of the tariffs. Then, so there’s nothing new in that. Otherwise, if there were no prospect for review,  there would be no need for a continuous engagement. So, we continue to engage because there’s always a prospect for review.”

Government says the tariffs could cost the country around 30 000 jobs, with the automotive and agriculture sectors being the hardest hit.

SA wine industry concerned about the US 30% tariff: Denise Stubbs

Government has since established interventions to help companies that are affected, through interventions like the Export Support Desk, Localisation Fund Support, and the  Export and Competitiveness Support Programme, among others.

“The interventions that I read through, which we will repeat, are part of the aim to mitigate against those job losses, including the diversification to other markets. You indicated how soon the diversification with other markets will take place; they have taken place in the agricultural sector.”