More measures to be announced to cushion blow of US tariffs - Ntshavheni
Minister
in the Presidency Khumbudzo Ntshavheni says industries affected by the US export tariff hike will be briefed on Monday on support measures.
These measures include a new Export Support Programme and a Localisation Support Fund to help companies absorb the shock and protect jobs.
The 30% tax on South African products came into effect on Thursday.
Briefing the media on Thursday, Ntshavheni said that they remain committed to finding lasting solutions through ongoing talks with the US, including at presidential level.
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"As communicated this morning through the Presidency, President Ramaphosa has reached out through a phone call to President Trump yesterday morning, as part of both studying the South African negotiation efforts on the trade agreement," said Ntshavheni.
"Government's efforts remain focused on growing the economy to save and create new jobs, which include intensifying diversification efforts and strengthening our global supply chain integration as the country works to expand its export markets to Asia, Europe, the Middle East, and across the African continent."
Earlier on Thursday, the Presidency said President Cyril Ramaphosa spoke on the phone with Donald Trump on Wednesday.
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