Ramaphosa: SA to target new markets in Africa, Asia after US tariffs

By Cyril Ramaphosa

The decision by the United States to impose a 30% tariff on South African imports highlights the urgency with which we have to adapt to increasingly turbulent headwinds in international trade.
 
The US is South Africa’s second largest trading partner by country and these measures will have a considerable impact on industries that rely heavily on exports to that country and on the workers they employ, as well as on our fiscus.
 
Domestic sectors such as agriculture, automotive and textiles have historically benefited from duty-free access to the US market under the African Growth and Opportunity Act (AGOA).
 
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