SA exporters remain in limbo as US tariffs kick in
Exporters are
still waiting to hear if South Africa's secured a last-minute trade deal with
the US.
Local goods are facing duties of 30%.
It's part of a raft of import taxes announced by President Donald Trump.
Just hours ago, he posted on his Truth Social platform that billions of dollars are now flowing into the US.
["IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!"]
Washington says the latest tariff wave is aimed at addressing what it deems unfair trade practices.
From our continent, South Africa is the biggest investor in the United States, with active trade in several sectors including mining, chemicals, pharmaceuticals, and food.
The crippling tariffs were due to take effect last Friday, but Trump extended the deadline by a week at last minute.
Officials have been scrambling to secure a favourable trade deal amid fears of a looming economic slowdown and potential job losses exceeding 100,000.
President Cyril Ramaphosa says engagements with Washington have continued this week to preserve key market access for exports.
Both the Trade and International Relations ministers have confirmed that negotiations are still ongoing.
Government's interim solution has been the setup of an Export Help Desk.
It's meant to help producers and exporters explore and expand into new markets - particularly in Africa, Asia and the Middle East.
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