According to South African Officials, the Proposed US Tariffs Might Jeopardize 30,000 Employment
The United States’ 30% retaliatory tariffs, according to South Africa’s trade and industry minister, might jeopardize tens of thousands of jobs. Simphiwe Hamilton, Director-General of the Department of Trade, Industry, and Competition, stated, “We have based this on the continuous consultations that we have with all the sectors of the economy, from automotive to agriculture and all the other sectors that are going to be impacted.
Just hours before he set a deadline of August 1st for agreements, US President Donald Trump signed an executive order last Thursday imposing higher tariff rates on dozens of nations. South Africa’s tariff rate stayed at the 30% earlier suggested, placing it among the top five highest levies imposed by Trump on any country, even though other nations received lowered tax rates.
At 7.5% of total exports, the US ranks as South Africa’s third-largest commercial partner, followed by China at 11% and the European Union at 17%. The automobile and agriculture sectors in South Africa are anticipated to be among the most severely impacted.
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