Lamola outlines plan to tackle US tariffs

MINISTER of International Relations and Cooperation, Ronald Lamola, has outlined the government’ plan to tackle the looming 30% US tariff set to come into play this week.

- STAFF REPORTER

Addressing the media yesterday, Lamola said since the onset of the 7th Administration, South Africa has diligently aimed to stabilise and elevate its mutually beneficial trade and investment relationships with the US.

“However, recent developments suggest that despite ongoing negotiations and strategic frameworks proposed by South Africa, the US has decided to implement a 30% unilateral tariff on South African imports, a significant move that threatens to destabilise these vital economic exchanges,” he said.

Lamola explained that the unilateral tariff decision comes as both countries engage in discussions designed to resolve longstanding bilateral issues aiming to foster predictability in trade.

He said South Africa submitted a comprehensive Framework Deal in May, which proposed ways to address the US trade deficit, promote digital trade, enhance investment opportunities, and eliminate non-tariff barriers.