SA adopts 'wait and see' approach as US import tariffs loom

Mantashe: 'We must look more for alternative markets in the world'

- MANYANE MANYANE

THE South African government says it has put various alternative mechanisms in place to avert the proposed US 30% import tariff wall on South African exporters ahead of the August 1 deadline.

South Africa is among several countries facing punitive tariffs from the US as it moves to protect its own manufacturers and labour force.

US President Donald Trump announced the tariffs in April, but delayed them for 90 days to allow countries to negotiate better deals.

South Africa has been trying to negotiate a trade deal with the US since May but is yet to agree on terms.

On Tuesday, the Department of Trade, Industry and Competition (DTIC) said it remains committed to the cause and awaits substantive feedback from the US on the final status of the country’s framework deal.

The department said it has been in a period of intense negotiations with the US and had signed a condition precedent document and “have readied our inputs for entry into the template which is to follow from the US”.

“Despite the challenges that have been presented by this period, we have put our best foot forward, bringing together the subject specialists within our ranks that have dug deep to ensure that our country is adequately prepared for a number of potential scenarios,” DTIC said.