SA in search for diverse markets

As US President Donald Trump's reciprocal tariffs remain paused for 90 days, President Cyril Ramaphosa says government is intensifying the search to diversify destinations for South African goods, products and services.

- Faizel Patel

Trump sent financial markets into a tailspin this month by announcing sweeping import taxes on dozens of trade partners, including South Africa.

He imposed a universal 10% baseline tariff on all imports into the US and reciprocal tariffs for countries, including 30% for SA.

However, last Thursday, he abruptly announced a pause on all of them, with the exception of China.

Ramaphosa, writing in his weekly newsletter yesterday, said trade between nations was a vital part of economic progress.