Ramaphosa says South Africa will engage US over new tariffs as trade challenges loom

PRESIDENT Cyril Ramaphosa has underscored the country’s commitment to maintaining market access in the face of the United States’ recent decision to impose a 30% tariff on South African imports.

- BANELE GININDZA

This significant shift in trade policy highlights the urgency for South Africa to navigate increasingly turbulent international trade waters and adapt its export strategies.

In his latest newsletter on Monday, Ramaphosa articulated a dual approach: not only will the government engage with the US to ensure mutually beneficial trade relations, but it will also accelerate the diversification of its export markets by boosting intra-African trade.

Recognising the US as South Africa's second-largest trading partner, Ramaphosa acknowledged the measure's potential to disrupt industries heavily dependent on exports to the US, thereby affecting thousands of jobs and the country’s fiscal stability.

"Our foremost priority is protecting our export industries. As government, we have been engaging the United States to enhance mutually beneficial trade and investment relations. All channels of communication remain open to engage with the US," Ramaphosa said.